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Good day sir,
Could you kindly show me better method to splitting liabilities on current and non-current
For example:extras from table of finance rentals in arrears.Year /Opening balance/ Interest(15%)/Installments/Closing balance
1. 14 275. 2 141. 5000. 11 416.
2. 11 416. 1 712. 5000. 8 128.So liabilities for year 1 is 11 416.How should I splitting them?
You’re not – liability at end year 1 is 11,416.
Liability at end year 2 is 8,128
Therefore, of the 11,416, 8,128 is long term ie beyond the end of the second year.
So current liability must be 3,288 (11,416 – 8,128 = 3,288)
Is that better?
Yes, thank you.
So,in St.of financial position at end of year 1 I’ll show 3 288-cur.liab. 8 128- non-cur.liab.
And in year 2 cur. liab. = 8128 – closind balance at end year 3 ?
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