Question: Which Is Not An Example Of Current Liabilities?

What’s included in current liabilities?

Current liabilities appear first because long-term liabilities are due in more than 12 months.

Common current liabilities include short-term accounts payable, accrued payroll payments, short-term debts, dividends payable, accrued taxes, and current portions of long-term debts that are due within a year..

Which of the following are not liabilities?

Answer and Explanation: Unearned revenue and accounts payable are current liabilities, while long-term debt is a non-current liability. Accumulated depreciation on the other hand is a contra-asset deducted on another asset account but is not classified as a liability.

What are liabilities examples?

Examples of liabilities are – Bank debt. Mortgage debt. Money owed to suppliers (accounts payable) Wages owed. Taxes owed.

Which of the following is not a current asset?

Noncurrent assets are a company’s long-term investments for which the full value will not be realized within the accounting year. Examples of noncurrent assets include investments in other companies, intellectual property (e.g. patents), and property, plant and equipment.

How do I calculate current liabilities?

Current Liabilities Formula:Current Liabilities = (Notes Payable) + (Accounts Payable) + (Short-Term Loans) + (Accrued Expenses) + (Unearned Revenue) + (Current Portion of Long-Term Debts) + (Other Short-Term Debts)Account payable – ₹35,000.Wages Payable – ₹85,000.Rent Payable- ₹ 1,50,000.Accrued Expense- ₹45,000.Short Term Debts- ₹50,000.

What are examples of current liabilities?

Current liabilities are typically settled using current assets, which are assets that are used up within one year. Examples of current liabilities include accounts payable, short-term debt, dividends, and notes payable as well as income taxes owed.

Which of the following is not an example of current liabilities?

Debentures issued by the company represents a long term debt which carries a charge of interest. Redeemable debentures are not current liabilities.

What are the current and non current liabilities?

Current liabilities (short-term liabilities) are liabilities that are due and payable within one year. Non-current liabilities (long-term liabilities) are liabilities that are due after a year or more. Contingent liabilities are liabilities that may or may not arise, depending on a certain event.

Is Rent A current liabilities?

Current liabilities are debts payable within one year, while long-term liabilities are debts payable over a longer period. … Items like rent, deferred taxes, payroll, and pension obligations can also be listed under long-term liabilities.

What are non current liabilities?

Noncurrent liabilities, also known as long-term liabilities, are obligations listed on the balance sheet not due for more than a year. … Examples of noncurrent liabilities include long-term loans and lease obligations, bonds payable and deferred revenue.

Which of the following is an example of current asset?

Current assets include cash, cash equivalents, accounts receivable, stock inventory, marketable securities, pre-paid liabilities, and other liquid assets. Current assets may also be called current accounts.

What are the current liabilities of a bank?

Current Liabilities only consider short-term liquidity out-flow and are thus expected to be paid off within one year (e.g. accounts payable, taxes payable)…Examples of banks Current Liabilities:Bills payable.Borrowings.Deposits.other accounts.