Apr 14
Notes Payable Definition + Journal Entry Examples
The portion of a note payable due in the current period is recognized as current, while the remaining outstanding balance is a noncurrent note payable. For example, Figure 12.4 shows that $18,000 of a $100,000 note payable is scheduled to be paid within the current period (typically within one year). The remaining $82,000 is considered
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Annual Balance Sheet Date Definition
As with assets, most balance sheets break down liabilities into two subcategories. If a company or organization is privately held by a single owner, then shareholders’ equity will generally be pretty straightforward. If it’s publicly held, this calculation may become more complicated depending on the various types of stock issued. Shareholders’ equity refers generally to
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