Which of the following accounts are normally reported as NONCURRENT liabilities on a classified balance sheet?...

Which of the following accounts are normally reported as NONCURRENT liabilities on a classified balance sheet?

A. Notes payable due in 5 years and bonds payable

B. interest payable and mortgage payable

C. Income taxes payable and salaries payable

D. capital stock and accounts payable

Solutions

Expert Solution

Answer:- The following accounts are normally reported as NONCURRENT liabilities on a classified balance sheet is:- Notes payable due in 5 years and bonds payable (Option A).

Explanation:-Non current liabilities are known as Long term liabilities.

ekkarill92 answered 1 year ago

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