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    ivory5130's Avatar
    ivory5130 Posts: 55, Reputation: 1
    Junior Member
    		  
    #1

    Sep 7, 2007, 08:47 AM
    Classifying Liabilities
    I am trying to classify what type of liabilities these payables are or if they are liabilities at all.

    The choices are current, long-term, or not a liability.

    Sales taxes payable- current
    FUTA taxes payable-
    Accts. Rec.-
    Accrued payroll payable-
    Wages payable- current
    Notes payable- current
    Notes payable ( due in 120 days)- current
    Current portion of long-term debt- current
    Notes payable( mature in five years)- Long term
    Notes payable ( due in13 to 24 months) - Long term

    Can someone help me with the three I am unsure of and check the ones that I think that I know.
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
    Ultra Member
    		  
    #2

    Sep 7, 2007, 02:52 PM
    FUTA taxes payable- current
    Accts. Rec.- not a liability
    Accrued payroll payable- current
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