3. Consider the following accounts and determine if the account is a current liability, a long-term liability, or neither. a. cash b. federal income tax payable this year c. long-term note payable d. current portion of a long-term note payable e. note payable due in four years f. interest expense g. state income tax

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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3. Consider the following accounts and determine if the account is a current liability, a
long-term liability, or neither.
a. cash
b. federal income tax payable this year
c. long-term note payable
d. current portion of a long-term note payable
e. note payable due in four years
f.
interest expense
g. state income tax
Transcribed Image Text:3. Consider the following accounts and determine if the account is a current liability, a long-term liability, or neither. a. cash b. federal income tax payable this year c. long-term note payable d. current portion of a long-term note payable e. note payable due in four years f. interest expense g. state income tax
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