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The Common Stock Distributable account is classified as a current liability?
Wiki User
∙ 12y ago
FALSE!
Wiki User
∙ 12y ago
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Unearned revenue account is classified as a?
Unearned revenue account is classified as current liability as it is the revenue not yet earned by business.
Why isn't stock dividend distributable a current liability?
Because the dividend is only available for distribution; It has not been declared.
What is the current portion of long-term debt classified with?
Current portion of long term loan is classified as current liability and shown under current liability section of balance sheet.
3 When is a liability classified as a current liability ad as a noncurrent liability?
When liability is payable within one fiscal year then it is current liability while one liability is payable within more than one period then Is non-current liability.
Is provision for depreciation is current liability?
NO, it is not a liability it is a con-tra account
Unearned revenue account is classified as a?
Unearned revenue account is classified as current liability as it is the revenue not yet earned by business.
Why isn't stock dividend distributable a current liability?
Because the dividend is only available for distribution; It has not been declared.
What is the current portion of long-term debt classified with?
Current portion of long term loan is classified as current liability and shown under current liability section of balance sheet.
How is the bonds payable classified on the balance sheet?
Bonds payable is classified as liability in balance sheet. That portion which is payable in current fiscal year as current liability while remaining portion as non-current liability.
3 When is a liability classified as a current liability ad as a noncurrent liability?
When liability is payable within one fiscal year then it is current liability while one liability is payable within more than one period then Is non-current liability.
Is provision for depreciation is current liability?
NO, it is not a liability it is a con-tra account
Which is an example of a current liability account?
materials
Is an overdraft a liability?
Bank Overdraft as Liability by Kayors Yes, a bank overdraft are classified as a current liability. What happens here is withdrawls from the bank exceed deposits. The lending institution, usually the bank, would allow an extension of credit in such a case. The company is usually expected to pay within short-term and it results in negative balance in company's bank account. That is the reason for the overdraft being classified as a current liability.
Is a bank overdraft an liability?
Bank Overdraft as Liability by Kayors Yes, a bank overdraft are classified as a current liability. What happens here is withdrawls from the bank exceed deposits. The lending institution, usually the bank, would allow an extension of credit in such a case. The company is usually expected to pay within short-term and it results in negative balance in company's bank account. That is the reason for the overdraft being classified as a current liability.
Are Notes receivable are classified as current liabilities?
Notes Receivable are "not" classified as a liability at all, since they are receivable (meaning the company will receive them) they are classified as Long Term Assets. Accounts Receivable (Current Asset) Notes Receivable (Long Term Asset) Accounts "Payable" (Current Liability) Notes "Payable" (Long Term Liability)
What does a credit balance on partner's current account mean?
current liability
Is a three year notes payable classified as a current liability?
Only the portion of it that is due within the next 12 months is current. The balance is a deferred or non-current liability.
