Fundamental Accounting Principles -Hardcover
Fundamental Accounting Principles -Hardcover
22nd Edition
ISBN: 9780077632991
Author: Wild
Publisher: MCG
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Chapter 11, Problem 1QS

Classifying liabilities

C1

Which of the following items are normally classified as current liabilities for a company that has a 15-month operating cycle?

______1. Portion of long-term note due in 15 months.

______2. Note payable maturing in 2 years.

______3. Note payable due in 18 months.

______4. Note payable due in 11 months.

______5. FICA taxes payable.

______6. Salaries payable.

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Fundamental Accounting Principles -Hardcover

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