What are examples of other current liabilities?

What are examples of other current liabilities?

The following are common examples of current liabilities:

  • Accounts payable. These are the trade payables due to suppliers, usually as evidenced by supplier invoices.
  • Sales taxes payable.
  • Payroll taxes payable.
  • Income taxes payable.
  • Interest payable.
  • Bank account overdrafts.
  • Accrued expenses.
  • Customer deposits.

What are the 5 current liabilities?

List of Current Liabilities

  • #3 – Bank Account Overdrafts.
  • #4 – Current portion of long-term debt.
  • #5 – Current Lease payable-
  • #6 – Accrued Income Taxes or Current tax payable.
  • #7 – Accrued Expenses (Liabilities)
  • #8 – Dividend Payable-
  • #9 – Unearned Revenue-

What is meant by other liabilities?

Other Liabilities means amounts due on account of or arising from (a) any Cash Management Services furnished to any of the Loan Parties and (b) any transaction which arises out of any Bank Product entered into with any of the Loan Parties, as each may be amended from time to time.

Which are the current liabilities?

Current liabilities are listed on the balance sheet and are paid from the revenue generated by the operating activities of a company. Examples of current liabilities include accounts payables, short-term debt, accrued expenses, and dividends payable.

Which liabilities are not shown under other current liabilities?

Long-term liabilities are non-current liabilities such as bank loans, debentures, and long-term notes payable.

Are other liabilities debt?

At first, debt and liability may appear to have the same meaning, but they are two different things. Debt majorly refers to the money you borrowed, but liabilities are your financial responsibilities. At times debt can represent liability, but not all debt is a liability.

What are the non-current liabilities list?

List of Non-Current Liabilities with Examples

  • #1 – Long Term Borrowings.
  • #2 – Secured/Unsecured Loans.
  • #3 – Long Term Lease Obligations.
  • #4 – Deferred Tax Liabilities.
  • #5 – Provisions.
  • #6 – Derivative Liabilities.
  • #7 – Other Liabilities Getting due After 12 Months.
  • Non-Current Liabilities Example – Alphabet Inc.

Which is not an example of current liabilities?

Debenture are issued by the firm to get the money in business for long term purposes. This amount need to repay after a considerable long time i.e. more than 3 years. Hence debenture are not considered as current liabilities.

What are the other non current liabilities?

Noncurrent liabilities include debentures, long-term loans, bonds payable, deferred tax liabilities, long-term lease obligations, and pension benefit obligations. The portion of a bond liability that will not be paid within the upcoming year is classified as a noncurrent liability.

What is the difference between accounts payable and other current liabilities?

Accounts payable is listed on a company’s balance sheet. Accounts payable is a liability since it is money owed to creditors and is listed under current liabilities on the balance sheet. Current liabilities are short-term liabilities of a company, typically less than 90 days.