United Supply has a $40 million liability at December 31, 2021, of which $8 million is...
United Supply has a $40 million liability at December 31, 2021, of which $8 million is payable in each of the next five years. United Supply reports the liability in the balance sheet as a $8 million current liability and a $32 million long-term liability. $40 million long-term liability. $32 million current liability and a $8 million long-term liability. $40 million current liability.
Homework Answers
Current liabilities are a company's short-term financial obligations that are due within one year or within a normal operating cycle.
in the present case only $8 million is due in next one year so,. United Supply reports the liability in the balance sheet as a $8 million current liability and a $32 million long-term liability.
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United Supply has a $40 million liability at December 31, 2021,
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