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Non-current liability, all provisions are non current.

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17y ago

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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.


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It is a loan repayable. Hence it is a liability. As the liability is for more than one year, it is non current liability.


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Bonds payable are reported on the balance sheet at?

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What is the classification of mortgage in accounting?

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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