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Identify Which of the Following Would Be Classified as Current

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Essay

Identify which of the following would be classified as current liabilities as of December 31, 2013:
1. Salaries and Wages Payable
2. Bonds Payable, maturing in 2018
3. Interest Payable, due July 1, 2014
4. Income Taxes Payable
5. Notes Payable, due January 30, 2015


Definitions:

Equal Distribution

The equitable allocation of resources, income, or wealth across different segments of society or among participants in a market or economy.

Social Services

Public and private services designed to aid individuals and communities in need, including healthcare, education, and welfare services.

Competition

The rivalry among businesses to attract customers, increase sales and market share, and achieve a sustainable competitive advantage.

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