11 2: Analyze, Journalize, and Report Current Liabilities Business LibreTexts
Examples of current liabilities include accounts payable, short-term debt, dividends, and notes payable as well as income taxes owed. For example, accounts payable for goods, services or supplies that were purchased for use in the operation of the business and payable within a normal period would be current liabilities. Amounts listed on a balance sheet as accounts payable represent all bills payable to vendors of a company, whether or not the bills are less than 31 days old or more than 30 days old. Therefore, late payments are not disclosed on the balance sheet for accoun