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Why are leases a non current liability?
Lease agreements are generally made for more than one fiscal years that's why these are non-current liabilities.
Is liability for withholding taxes a current or non current liability?
current liability
Is retained earnings a current liability?
Retained Earnings is a Non-Current Liability
Is accrued vacation pay belong to current liability?
No, it belongs to non-current liability
Is pension fund a current liability or non current liability?
A pension fund is considered a non-current asset but it is a long term investment fund .
Why are leases a non current liability?
Lease agreements are generally made for more than one fiscal years that's why these are non-current liabilities.
Is liability for withholding taxes a current or non current liability?
current liability
Is a long term loan repayable in 6 years a non current asset or non current liability?
It is a loan repayable. Hence it is a liability. As the liability is for more than one year, it is non current liability.
Is retained earnings a current liability?
Retained Earnings is a Non-Current Liability
Is interest a current or non current liability?
That part of interest which is due withing next 12 month or due in current financial year then that would be current liability and the remaining part will be non-current liability.
Is accrued vacation pay belong to current liability?
No, it belongs to non-current liability
Is pension fund a current liability or non current liability?
A pension fund is considered a non-current asset but it is a long term investment fund .
Bonds payable are reported on the balance sheet at?
bonds payable are shown in balance sheet under current as well as non-current liability portion as that much amount which is payable within current year is current liability and remaining is 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.
What is the classification of mortgage in accounting?
non current liability
What things do you need before making a balance sheet?
Assets: current assets (incl. cash, accounts receivable, inventory) and non-current assets (intangable, tangable and investment types) which equal total asset. Liabilities: current liabilities (incl. provisions, debt, accounts payable, accruels) and non-current liabilities (incl. long-term debt, payables and provisions) which make up the total liability. If the company is limited liability then owners equity, which includes capital and retained earnings. Total asset less total liability and owners equity should equal zero. That is: TA - (TL + Equity) = 0. Where TA is total asset and TL is total liability. ~MB
How do you calculate Non Current Liability?
fair market value
