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Accounting Study Guide by AccountingInfo.com |
| U.S. GAAP Codification | Accounting Topics |
| Examples of Liability Accounts |
| Financial Statements Overview |
| Liabilities |
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Current Liabilities |
| Current liabilities include liabilities that
are expected to be paid within a year from the balance sheet date. |
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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 |
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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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