please give me a formula to find current liabilities,grade 9 accounting, balance sheet

3 Answers

yousafbhutta86's profile pic

yousafbhutta86 | College Teacher | eNotes Newbie

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Current liabilities = Total Assets - Long term liabilities - Owner equity.

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nikasho0100 | Student, Undergraduate | (Level 1) Salutatorian

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Add all the short term debts as (Overdrafts, creditors, accruals, Short term loans ect)


Use the equation   

Current Liabilities = Current Assets - Working Capital

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musani | High School Teacher | eNotes Newbie

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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
Accrued expenses
Income received in advance
propsed dividend

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.