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Important information about long term liabilities

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Explain the comparison of the current reporting for debt, explaining the requirements for each type (bond, mortgage, capital lease).

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Solution Summary

Your tutorial is 210 words and tells you the methods to pull out the current portion of long term liabilities for bonds, mortgages, and capital lease obligations.

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Bonds

The current reporting for bonds is that you report any bond principal payments due in the upcoming year as a current liability. Often this is nothing since bonds typically mature all at once and only pay interest during the life of the loan. In other words, you would see Bonds Payable in the current liability section in the year of maturity.

Any interest ...

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Carol Sargent, PhD
Education
  • BSc, University of Virginia
  • MSc, University of Virginia
  • PhD, Georgia State University
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