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Notes Payable could not appear as a line on the balance sheet in which classification?

Assets * Liabilities*Owner's/Stockholders' Equity

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Question added by abdelaziz allam , محاسب اول , شركة كامبردج مصر للاستثمار التعليمي ش.م.م
Date Posted: 2016/02/11
Irah Mananquil
by Irah Mananquil , EXECUTIVE SECRETARY cum ACCOUNTANT , Melt Design

The balance in the Notes Payable account will be reported on the balance sheet as follows:

  • the amount due within one year of the balance sheet date will be a current liability, and
  • the amount not due within one year of the balance sheet date will be a noncurrent liability.

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