Which of the Following May Be a Current Liability

Current liabilities are short-term obligations that are settled within one operating cycle or one accounting period. Withheld Income Taxes b.

Solved 29 Which Of The Following May Be A Current Chegg Com

This transaction is recorded as a n Accounts Payable.

. Short-term zero interest bearing notes payable is a category of debt entered under current liabilities side of a balance sheet. Bonds for which there is an adequate sinking fund properly classified as a long-term investment due in three months. A Withheld Income Taxes B Deposits Received from Customers C Deferred Revenue D All of these answers are correct.

Moreover current liabilities are settled by the use of a current asset either by creating a new current liability or cash. Bonds for which there is an adequate appropriation of retained earnings due in eleven months. The current portion of long-term debt.

Which of the following is a current liability. Which of the following may be a current liability. Incorporate current liabilities into a balance sheet.

Current liabilities are an enterprises obligations or debts that are due within a year or within the normal functioning cycle. Bonds for which there is an adequate sinking fund properly classified as a long-term investment due in three months. Here are some examples of current liabilities your company might encounter.

No formal agreement is signed. Common current liabilities include. Therefore it would be classified as long term liability.

A liability is defined by one of the following characteristics. Current Liabilities and Contingencies 32. Deposits Received from Customers c.

Bonds due in three years. These items are presented in the balance sheet. Bonds for which there is an adequate appropriation of retained earnings due in eleven months D.

A long-term debt maturing currently which is to be converted into common stock d. NOT dividends payable in the companys stock accounts payabledebit balances and losses expected to be incurred within the next twelve months in excess of the companys insurance coverage. Current liabilities 300 500 1200 250 2250.

An obligation payable within one year of the balance sheet date. It is clearly mentioned that notes payable is for 2 years. Current liabilities can take many shapes and forms depending on the company.

None of these answers are correct. A balance sheet is a financial statement that provides an overview of a businesss financial position during a specific period. Losses expected to be incurred within the next twelve months in excess of the companys insurance coverage.

A long-term debt maturing currently which is to be paid with cash in a sinking fund b. Bonds due in 3 years C. Trade payables are nearly always classified as current liabilities because they are usually payable within one year.

Current liabilities appear on an enterprises Balance Sheet and incorporate accounts payable accrued liabilities short-term debt and other. Which of the following items is a current liability. So the accounts payable balance reported on the balance sheet under current liabilities may include amounts that are over 30 days due.

The most common current liabilities found on the balance sheet include accounts payable short-term debt such as bank loans or commercial paper issued to fund operations dividends payable. Bonds would term as a current liability only if it would be matured in the current financial period for the rest of the period it would be considered as long term liability. Accounts payable refers to funds owed by a company for products or services theyve already received.

A current liability such as a credit purchase can be documented with an invoice. Which of the following items is a current liability. A long-term debt maturing currently which is to be retired with proceeds from a new debt issue c.

Bonds to be refunded when due in 8 months there being no doubt about the. Bonds for which there is an adequate sinking fund properly classified as a long-term investment due in 3 months B. Bonds for which there is an adequate sinking fund properly classified as a long-term investment due in three months.

The owner performs the following calculation to find their current liabilities. An account which would be classified as a current liability is a. Dividends payable in the form of a companys stock.

An obligation payable within one year or within the normal operating cycle whichever is longer. These current liabilities are present in the companys balance sheet under liabilities head as a separate section. Because companies need supplies and products on a regular basis accounts payable.

- Bonds for which there is an adequate appropriation. Which of the following items is a current liability. Deferred revenue is classified as.

Pember Corporation started business in 2012 by issuing 200000 shares. Which of the following items is a current liability. D None of these.

Some of the examples of the current liabilities include trade payable or accounts payable Interest payable Taxes payable current portion of long term debt notes payable which are due within a period of one year etc. - Bonds for which there is an adequate sinking fund properly classified as a long-term investment due in three months. A company may exclude a short term obligation from current liabilities if the firm intends to refinance the obligation on a long term basis.

A customer deposit is usually classified as a current liability since the company typically provides services or goods within one year of the deposit being made Deferred revenue is typically reported as a current liability on a companys balance sheet. - Bonds due in three years. Which of the following may be a current liability.

An obligation payable within one year. None of these answers are correct. An account which would be classified as a current liability is.

Which of the following is the best definition of a current liability. Which of the following items is a current liability. All of these answers are correct.

A company may exclude a short term obligation from current liabilities if the firm can demonstrate an.

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