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Accounting Study Guide |
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| CPAClass.com | GAAP | Study |
Examples of Liability Accounts
| Financial Statements Overview |
| Liabilities |
| Current Liabilities |
| Current liabilities include liabilities that are expected to be paid within a year from the balance sheet date. |
 Accounts payable (due within a year from the balance sheet date) Notes payable (due within a year
from the balance sheet date) Short-term borrowings Salaries payable Income taxes payable Sales taxes payable Current maturities of long-term
debt (due within a year from the balance sheet date) Other current liabilities |
| Long-Term Liabilities |
| Long-term liabilities include liabilities that are expected to be paid after a year from the balance sheet date. |
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Bonds payable Long-term notes payable (due
after a year from the balance sheet date) Long-term borrowings |
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