0
Why is it important to classify a portion of long-term debt on a yearly basis as a current liability?
Wiki User
∙ 12y agoWant this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Is liability for withholding taxes a current or non current liability?
current liability
Are lease provisions a current liability or non current liability?
Non-current liability, all provisions are non current.
Is Demand loan a current liability or a long term liability?
a current liability
Do you put a Security Deposit on the Balance Sheet?
Yes. If it is a deposit paid to a vendor, then it will be classified as an asset. If it is a deposit received from a customer, then it is a liability. Depending on when it is expected to be returned, you will classify it as either current or non-current.
If payment on a current liability?
Payment On Current Liability Debit The Current Liability (say Sundry Creditor) (Liability Decreases) Credit Cash Or Bank (Current Asset Decreases)
Difference between net worth and working capital?
Working Capital is the difference between Current Assets and Current Liabilities.Net Worth is Total Assets -Total Liabilities current asset-current Liability=Working Capital working Capital Plus+Fixed Asset-LongTerm Liabilities = Net Worth in another word: (Current Asset+Fixed Asset)-(current Liability+Long Term Liability)= Net Worth Now you got it ?
Is liability for withholding taxes a current or non current liability?
current liability
Are lease provisions a current liability or non current liability?
Non-current liability, all provisions are non current.
Is Demand loan a current liability or a long term liability?
a current liability
Do you put a Security Deposit on the Balance Sheet?
Yes. If it is a deposit paid to a vendor, then it will be classified as an asset. If it is a deposit received from a customer, then it is a liability. Depending on when it is expected to be returned, you will classify it as either current or non-current.
If payment on a current liability?
Payment On Current Liability Debit The Current Liability (say Sundry Creditor) (Liability Decreases) Credit Cash Or Bank (Current Asset Decreases)
What are the Journal entries for a sale of subsidiary?
There are several important journal entries for the sale of a subsidiary. These include: Fixed assets, current assets, current liability, deferred tax liability, and goodwill.
Are creditors considered as current liability?
Yes, it is a current liability.
What is the difference between current liability and total liability?
Current Liability: Current liability is a specific liability and it is short term and mostly it is paid within the year. Total Liability: Total liability is the sum of all liabilities like current liabilities, outstanding liabilities etc.
Are billings in excess of cost a current liability or long term liability?
Yes it is a current liability
Is Creditors an asset or liability?
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.
