Athen company signed a promissory note on Jan. 2010 with the folllowing terms:
Principal amount 100000 the interest rate is 6% with 5 yr term what is the current and longterm liability

At the time of signing, there is no current liability. As interest accrues, it will be current. Since the note is not due for 5 years, it is long-term - as would be any note over a year.

Athen company signed a promissory note on Jan. 2010 with the folllowing terms:
Principal amount 100000 the interest rate is 6% with 5 yr term what is the current and longterm liability

The principal is to be paid in equal amounts over the 5 year term of the note. How should this note appear on the balance sheet as of December 31,2010? Assume that the appropriate amount was paid in 2010

Is this a new question or more info on the first question? If it is to be paid equally over the 5 years, anything that is due within one year is current.

So what is the long term liabilities? Is the current liabilites 106000?

It's a five year promissory note, to be paid in equal installments over 5 years. That means they will pay $20,000 per year. $20,000 is current (due within a year) and the balance is long-term (due in over a year). They said interest is paid as due, so the $6,000 of interest does not figure into this.

So in numbers what is the current liabilities and the long term liabilities

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Originally Posted by shanika18

so in numbers what is the current liabilities and the long term liabilities

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I would say, J Lo just helped you out considerably with your homework question. That was very gracious of her because we don't normally assist with homework.
Knowing what you know currently, is there any way you can finish it off yourself?
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Thanks for your comment! I was asking her for numbers because I wasn't understanding what she was talking about. I was trying to compare what I had already done with what she was telling me!