Multiple Choice
Most companies pay current liabilities using:
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9. Current Liabilities
Current Portion of Long Term Debt
Back9. Current Liabilities
Current Portion of Long Term Debt
- Multiple ChoiceThe current portion of long-term debt should be:83views
- Multiple ChoiceA current liability is a debt that is reasonably expected to be paid:83views
- Multiple ChoiceWhich of the following is classified as a current asset?78views
- Multiple ChoiceWhich of the following best describes how the current portion of long-term debt affects the classification of current assets on the balance sheet?81views
- Multiple ChoiceWhich of the following best reports the amount of money a firm owes its creditors that is due within the next year?76views
- Multiple ChoiceWhich of the following does NOT affect the current liabilities section of the balance sheet?65views
- Multiple ChoiceThe current portion of long-term debt should:83views
- Multiple Choice
ABC Company is preparing the liabilities section of its December 31, 2018 balance sheet. Selected information includes \$20,000 in accounts payable, \$100,000 in bonds payable, \$80,000 of short-term debt, \$10,000 in wages payable, \$10,000 in prepaid rent expense, and \$20,000 of unearned revenue. Furthermore, on January 1, 2018, ABC Company signed a \$60,000, 10% note payable with interest payable annually on December 31. The principal of the note payable is repaid in \$10,000 annual installments on January 1 of each year. The total of ABC's current liabilities is:
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