Current Liabilities
Definition: Current Liabilities are obligations that are expected to be settled within one year or one operating cycle, whichever is longer. They are listed on…
Scope:ModerateDifficulty:Beginner
Current Liabilities are obligations that are expected to be settled within one year or one operating cycle, whichever is longer. They are listed on the balance sheet and typically include: Accounts Payable, Short-Term Notes Payable, Current Portion of Long-Term Debt, Accrued Expenses (wages, interest, taxes), Unearned/Deferred Revenue, Income Taxes Payable, and Dividends Payable. Current Liabilities is the denominator of the Current Ratio, Quick Ratio, Cash Ratio, and Operating Cash Flow Ratio.
Articles (45)
- Accounts Payable
- Accrued Expenses
- Income Tax Payable
- Notes Payable Short-Term
- Current Portion of Long-Term Debt CPLTD
- Unearned Revenue
- Contract Liabilities
- Sales Tax Payable
- Payroll Liabilities
- Warranty Liability Short-Term
- Gift Card Liability
- Refund Liability
- Dividends Payable
- Additional Medicare Tax
- Federal Unemployment Tax Act (FUTA)
- Medicare tax rate
- Noncurrent liabilities
- State income tax withholding
- Warranties
- Account Payable
- Defined Contribution Plan
- Federal Income Tax Withholding
- Gross Income (PAY)
- Involuntary Deduction
- Local Income Tax Withholding
- Vacation Compensation
- Voluntary Deduction
- Current Maturity
- Employee Compensation
- Salary
- Wages
- Commission
- Bonus
- Benefits
- Straight Time
- Overtime
- Gross Pay
- Net Pay
- Withholding Deduction
- Required Deduction
- Optional Deduction
- Withholding Allowance
- Employee Health Insurance
- Unemployment Compensation Tax
- Remote Contingent Liability