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Long-term debt should be included in the current section of balance sheet if: 1- it matures next year. 2-it matures within the year?

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تم إضافة السؤال من قبل مستخدم محذوف‎
تاريخ النشر: 2013/06/21
مستخدم محذوف‎
من قبل مستخدم محذوف‎

2-it matures within the year

مستخدم محذوف‎
من قبل مستخدم محذوف‎

Long term debts should be shown under current liabilities in the Balance Sheet if the long term liabilities are repayable within the period of12 months from the balance sheet date.

Payal Seth
من قبل Payal Seth , Financial Analysis and Tax Processor , SKP e-solutions Pvt Ltd

Long-term debt should be included in the current section of balance sheet if it matures within the year (include the current portion of long term debt).

shehzad ahmad
من قبل shehzad ahmad , Assistant Manager Finance & Accounts , RYK Mills Limited


2- It matures within the year.

Frank Avitia
من قبل Frank Avitia , Managing Director , AIS Investment Services

In accounting, a current asset is an asset which can either be converted to cash or used to pay current liabilities within12 months.
So the answer to the question is - (2) Long-term debt should be included in the current section of balance sheet if it matures within the year.

Muhammad Afaq
من قبل Muhammad Afaq , SENIOR FINANCIAL ACCOUNTANT , United Eddy Company (United Yousef M. Naghi Group)

as long debt is going to be mature in current year, therefore it will be the part of current portion of the balance sheet that ie option2

Prince Ninan
من قبل Prince Ninan , Audit Executive , Lewis & Pecker

Long term debt are those debts which becomes payable after one yr, so it should not be included in current liabilities.

 

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