Answer:
1. Notes payable (due in 13 to 24 months) - L
Long term because period of payment is over a year.
2. Notes payable (due in 6 to 11 months). - C
Current because period of payment is under a year.
3. Notes payable (mature in five years). - L
Long term because it will mature after a period of a year.
4. Current portion of long-term debt. - C
Current because it deals with payment for the year.
5. Notes payable (due in 120 days). - C
Current as it matures in less than a year.
6. FUTA taxes payable - C
Taxes are for a single period making them current.
7. Accounts receivable - N
This is an asset not a liability
8. Sales taxes payable. - C
As this is this for the year, it is current.
9. Salaries payable. - C
For the period so they are a current liability.
10. Wages payable - C
Concern one period so are a current liability.
