please give me a formula to find current liabilities,grade 9 accounting, balance sheet
Current liabilities = Total Assets - Long term liabilities - Owner equity.
Add all the short term debts as (Overdrafts, creditors, accruals, Short term loans ect)
Use the equation
Current Liabilities = Current Assets - Working Capital
liabilities are debts or something that a business owes.
Current Liabilities are short term debts that has to be paid within a year by a business.
These often include:
Creditors/ Accounts payble
Income received in advance
you can find current liabilities by adding all the short term debts of a business which have been describe above.
Or by subtacting Current assets from Working capital
Creditors/ Accounts payble--- are those people from whom a firm buy assets in credit or owe money to them.