5 Examples of Current Liabilities - Balance Sheet Analysis

Current Liabilities are classified as money owed to another party which is due within a year.
Five examples include:
1) Accounts Payable: trade goods and services which have been incurred and are unpaid as of the balance sheet date
2) Accrued Expenses: expense incurred, but not paid or entered through accounts payable
3) Accrued Payroll: compensation that has been earned, but not paid
4) Current portion of long term debt: principal owed within a year
5) Unearned Revenue: cash received before goods and/or services have been performed and/or earned with the next 12 months
Also check out:
5 Examples of Current Assets found on the Balance Sheet
• 5 Examples of Current ...
5 Examples of Noncurrent Liabilities found on the Balance Sheet
• 5 Examples of Noncurre...
====================================
I post daily accounting and finance quizzes here: / @patrickbraycpa
====================================
#liability #accounting #balancesheet #assets #liabilities #basicaccounting #introtoaccounting #financialstatement #financialeducation #financialanalysis #accountingtutorial #accountingtutorials #introaccounting #accountingeducation #accounting101 #finance101

[@jimoffutt9156]

These reviews are so helpful to me, and well done sir.👍

[@patrickbrayCPA]

Thank you 🙌

[@DHILLA-yz4rx]

Accounting is underrated

[@patrickbrayCPA]

100% - backbone of business.