define current liability and drawing.
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hey miss
here is ur answer
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➡Current liabilities are a company's debts or obligations that are due within one year, appearing on the company's balance sheet and include short term debt, accounts payable, accrued liabilities and other debts.
Essentially, these are bills that are due to creditors and suppliers within a short period of time. Normally, companies withdraw or cash current assets in order to pay their current liabilities.
➡A drawing account is an accounting record maintained to track money withdrawn from a business by its owners. A drawing account is used primarily for businesses that are taxed as sole proprietorships or partnerships. Owner withdrawals from businesses that are taxed as separate entities must generally be accounted for as either compensation or dividends
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I hope it helps
#Prem✌✴✌✴
here is ur answer
▶▶▶▶▶▶▶
➡Current liabilities are a company's debts or obligations that are due within one year, appearing on the company's balance sheet and include short term debt, accounts payable, accrued liabilities and other debts.
Essentially, these are bills that are due to creditors and suppliers within a short period of time. Normally, companies withdraw or cash current assets in order to pay their current liabilities.
➡A drawing account is an accounting record maintained to track money withdrawn from a business by its owners. A drawing account is used primarily for businesses that are taxed as sole proprietorships or partnerships. Owner withdrawals from businesses that are taxed as separate entities must generally be accounted for as either compensation or dividends
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I hope it helps
#Prem✌✴✌✴
Answered by
6
Hello MaTe!!
The Answer Is ==> Non-Current Liabilities Reported on a Balance Sheet. Let's look at some common types of non-current liabilities that are reported on balance sheets. Credit lines. A credit line is a credit arrangement where a lender, such as a bank, makes a specific amount of funds available for the business to draw upon when needed.
#ThNkx
The Answer Is ==> Non-Current Liabilities Reported on a Balance Sheet. Let's look at some common types of non-current liabilities that are reported on balance sheets. Credit lines. A credit line is a credit arrangement where a lender, such as a bank, makes a specific amount of funds available for the business to draw upon when needed.
#ThNkx
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