Which of the following accounts could not be classified as a current liability? A.) notes payable...
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Which of the following accounts could not be classified as a
current liability?
A.) notes payable...
1 current or non current liability Taylor Company has the following obligations at December 31: (a)...
1 current or non current
liability
Taylor Company has the following obligations at December 31: (a) a note payable for $10,000 due in six months; (b) unearned revenue of $12,500; (c) interest payable of $15,000; (d) accounts payable of $60,000; and (e) note payable due in two years. For each obligation, indicate whether or not it should be classified as a current liability For each scenario, determine if the liability should be classified as a current or non-current liability. (a)...
On a classified balance sheet: O A. Salaries Payable is a long-term liability. O B. Notes...
On a classified balance sheet: O A. Salaries Payable is a long-term liability. O B. Notes Payable due in one year is a current liability. O c. Accounts Receivable is a current liability. D. Dividends is a current asset.
1. All of the following are reported as current liabilities except a. accounts payable. b. bonds...
1. All of the following are reported as current liabilities except a. accounts payable. b. bonds payable. c. notes payable. d. unearned revenues. 2. The relationship between current liabilities and current assets is a. useful in determining income. b. useful in evaluating a company's liquidity. c. called the matching principle. d. useful in determining the amount of a company's long-term debt. 3. Most companies pay current liabilities a. out of current assets. b. by issuing interest-bearing notes payable. c. by...
ctive 1 S11-1 Determining current versus long-term liabilities Rios Raft Company had the following liabilities. a....
ctive 1 S11-1 Determining current versus long-term liabilities Rios Raft Company had the following liabilities. a. Accounts Payable d. Note Payable due in 6 months b. Note Payable due in 3 years e. Sales Tax Payable c. Salaries Payable f. Unearned Revenue due in 8 month Determine whether each liability would be considered a current liability (CL) long-term liability (LTL).
1. Classified Balance Sheet The following accounts appear in an adjusted trial balance of Waterloo Consulting....
1. Classified Balance Sheet The following accounts appear in an adjusted trial balance of Waterloo Consulting. Indicate whether each account would be reported in the current asset; property, plant, and equipment; current liability; long-term liability; or owner's equity section of the December 31, 2018, balance sheet of Waterloo Consulting. 1. Building 2. Cindy Sue Delaney, Capital 3. Notes Payable (due in five years) 4. Prepaid Rent 5. Salaries Payable 6. Supplies 7. Taxes Payable 8. Unearned Service Fees Options are:...
Rios Raft Company had the following liabilities. Determine whether each liability would be considered a current...
Rios Raft Company had the following liabilities. Determine whether each liability would be considered a current liability (CL) or a long-term liability (LTL). CL a. Accounts Payable b. Note Payable due in 3 years c. Salaries Pay Ne d. Note Payable due in 6 months e. Sales Tax Payable Uneamed Revenue due in 8 months 9. Income Tax Payable Choose from any drop-down list and then continue to the next question
Refer to the following list of liability balances at December 31, 2017 stio Accounts Payable Employee...
Refer to the following list of liability balances at December 31, 2017 stio Accounts Payable Employee Health Insurance Payable Employee Income Tax Payable Estimated Warranty Payable Long Term Notes Payable (Due 2021) FICA-OASDI Taxes Payable Sales Tax Payable Mortgage Payable (Due 2022) Bonds Payable (Due 2023) Current Portion of Long - Term Notes Payable $25,000 650 400 1,600 36,000 On January Taggart Sales (Round your 960 470 Q A. $18,4 O B. $24,8 15,000 59,000 O C. $24,3 5,500 Q...
PE 4-3A Classified balance sheet OBJ. 2 The following accounts appear in an adjusted trial balance...
PE 4-3A Classified balance sheet OBJ. 2 The following accounts appear in an adjusted trial balance of Waterloo Consulting. Indicate whether each account would be reported in the (a) current asset; (b) property, plant, and equipment; (c) current liability; (d) long-term liability; or (e) owner's equity section of the December 31, 2018, balance sheet of Waterloo Consulting. 1. Building 5. Salaries Payable 2. Cindy Sue Delaney, Capital 6. Supplies 3. Notes Payable (due in five years) 7. Taxes Payable 8....
PROBLEMV REQUIRED: On a separate sheet, list the following accounts by NUMBER and indicate whether the...
PROBLEMV REQUIRED: On a separate sheet, list the following accounts by NUMBER and indicate whether the account would be classified the following: (a) Current liability (b) Long-term liability (c) Not a liability. 1. Accounts Payable - Due in 3 months 2. Withdrawals 3. Unearned Revenues 4. Mortgage Payable- Due in 30 years 5. Cash 6. Salaries Payable 7. Prepaid Rent 8. Capital 9. Vacation-pay Payable 10. State Income Taxes Payable 11. Prepaid Rent 12. Dividends payable
Refer to the following list of liability balances at December 31, 2019. Accounts Payable Employee Health...
Refer to the following list of liability balances at December 31, 2019. Accounts Payable Employee Health Insurance Payable Employee Income Tax Payable Estimated Warranty Payable (Due 2020) Long-Term Notes Payable (Due 2022) FICA-OASDI Taxes Payable $24,000 1,450 1,000 1,600 43,000 1,060 Sales Tax Payable Mortgage Payable (Due 2023) Bonds Payable (Due 2024) Current Portion of Long Term Notes Payable 1,070 6,000 61,000 9,500 What is the total amount of long-term liabilities? O A. $104,000 O B. $49,000 O C. $110,000...
1 current or non current
liability
Taylor Company has the following obligations at December 31: (a) a note payable for $10,000 due in six months; (b) unearned revenue of $12,500; (c) interest payable of $15,000; (d) accounts payable of $60,000; and (e) note payable due in two years. For each obligation, indicate whether or not it should be classified as a current liability For each scenario, determine if the liability should be classified as a current or non-current liability. (a)...
On a classified balance sheet: O A. Salaries Payable is a long-term liability. O B. Notes Payable due in one year is a current liability. O c. Accounts Receivable is a current liability. D. Dividends is a current asset.
ctive 1 S11-1 Determining current versus long-term liabilities Rios Raft Company had the following liabilities. a. Accounts Payable d. Note Payable due in 6 months b. Note Payable due in 3 years e. Sales Tax Payable c. Salaries Payable f. Unearned Revenue due in 8 month Determine whether each liability would be considered a current liability (CL) long-term liability (LTL).
Rios Raft Company had the following liabilities. Determine whether each liability would be considered a current liability (CL) or a long-term liability (LTL). CL a. Accounts Payable b. Note Payable due in 3 years c. Salaries Pay Ne d. Note Payable due in 6 months e. Sales Tax Payable Uneamed Revenue due in 8 months 9. Income Tax Payable Choose from any drop-down list and then continue to the next question
Refer to the following list of liability balances at December 31, 2017 stio Accounts Payable Employee Health Insurance Payable Employee Income Tax Payable Estimated Warranty Payable Long Term Notes Payable (Due 2021) FICA-OASDI Taxes Payable Sales Tax Payable Mortgage Payable (Due 2022) Bonds Payable (Due 2023) Current Portion of Long - Term Notes Payable $25,000 650 400 1,600 36,000 On January Taggart Sales (Round your 960 470 Q A. $18,4 O B. $24,8 15,000 59,000 O C. $24,3 5,500 Q...
PE 4-3A Classified balance sheet OBJ. 2 The following accounts appear in an adjusted trial balance of Waterloo Consulting. Indicate whether each account would be reported in the (a) current asset; (b) property, plant, and equipment; (c) current liability; (d) long-term liability; or (e) owner's equity section of the December 31, 2018, balance sheet of Waterloo Consulting. 1. Building 5. Salaries Payable 2. Cindy Sue Delaney, Capital 6. Supplies 3. Notes Payable (due in five years) 7. Taxes Payable 8....
PROBLEMV REQUIRED: On a separate sheet, list the following accounts by NUMBER and indicate whether the account would be classified the following: (a) Current liability (b) Long-term liability (c) Not a liability. 1. Accounts Payable - Due in 3 months 2. Withdrawals 3. Unearned Revenues 4. Mortgage Payable- Due in 30 years 5. Cash 6. Salaries Payable 7. Prepaid Rent 8. Capital 9. Vacation-pay Payable 10. State Income Taxes Payable 11. Prepaid Rent 12. Dividends payable
Refer to the following list of liability balances at December 31, 2019. Accounts Payable Employee Health Insurance Payable Employee Income Tax Payable Estimated Warranty Payable (Due 2020) Long-Term Notes Payable (Due 2022) FICA-OASDI Taxes Payable $24,000 1,450 1,000 1,600 43,000 1,060 Sales Tax Payable Mortgage Payable (Due 2023) Bonds Payable (Due 2024) Current Portion of Long Term Notes Payable 1,070 6,000 61,000 9,500 What is the total amount of long-term liabilities? O A. $104,000 O B. $49,000 O C. $110,000...
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