Chapter 3, Problem 28DQ

To determine

Current Liabilities:

Current liabilities are the debt which is likely to be disbursed within a year. Current assets can also be utilized to pay current liabilities of the company. Current liabilities include accounts payables, accrued expenses, short term debt and other current liabilities.

Noncurrent Assets: Noncurrent assets are assets which are not meant to be converted into cash and cash equivalent within a year. They are meant to benefit company for more than one year.

To identify: Eight accounts listed as current liabilities in G Company‘s balance sheet.