Match the Liabilities with Their Usual Classification on the Statement

question 79

Essay

Match the liabilities with their usual classification on the statement of financial position by entering the appropriate letters in the spaces. Usual Classification
A. Current liability
B. Long-term liability
C. Current or long-term liability
D. None of the above Liabilities $$\begin{array} { | l | l | } \hline\quad & \text { (1) Rent payable } \\\hline & \text { (2) Payroll Income Taxes payable } \\\hline & \text { (3) Interest payable } \\\hline & \text { (4) Mortgage payable (due in 2 years) } \\\hline & \text { (5) Bond payable, current portion } \\\hline & \text { (6) Notes payable } \\\hline & \text { (7) Cash deposits (advances) received from customer for services to be performed in } \\&\text { six months } \\\hline& \text { (8) Bonds payable (due in 6 years) } \\\hline& \text { (10) Accumulated Depreciation } \\\hline& \text { (11) Employee income taxes withheld } \\\hline& \text { (12) Trade receivables } \\\hline &\text { (13) Trade payables } \\\hline& \text { (14) Allowance for doubtful accounts } \\\hline& \text { (15) Current Income tax payable } \\\hline\end{array}$$

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Definitions:

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