Current Liabilities

NRTP 3. 4. 5. Kingbird Corporation, is currently preparing the 2017 financial report. She is trying to decide how to classify the following items! Account payable of $153,000 owed to suppliers for inventory. A $55,000 note payable that matures in three months. The company is planning to acquire a five-year loan from its bank to pay off the note. The bank has agreed to finance the note A $450,000 mortgage: $71,000 payable within twelve months, and the remaining $379,000 to be paid over the next six years. The sum of $5,000 owed to the phone company for service during December Advances of $23,000 received from a customer. The contract between the customer and Kingbird Corporation states that if the company does not deliver the goods with month, the $23,000 is to be returned to the customer. The sum of $15,000 due the federal government for income tax Withheld from employees during the last quarter of 2017. The government requires that withings be submitted by the end of the next quarter to the Internal Revenue Service A $127.000 note payable $32,000 is payable within 12 months, and the remaining 195,000 is to be paid over the next two years. Kingbird Corporation plans to sue common stock to the creditor for the portion due during the next 12 months The company declared a cash dividend of $53,000 on December 29, 2017. The dividend is to be paid on January 21, 2018 6. 7