Ask Question
4 October, 23:39

Jimenez transportation purchased five new transportation vehicles in 2016. they plan to pay these vehicles off in even installments over the next 8 years. on the 2017 year-end financial statements, how would the amount jimenez plans to pay off in 2018 differ from the amount they plan to pay off in 2019

+2
Answers (1)
  1. 5 October, 01:37
    0
    The amount paid off in 2018, being planned for the upcoming year, would be considered a current liability. Since the 2019 payoff amount comes outside the 1-year window, this would be a long-term liability. Long-term liabilities are much less stable in their timeframe than current liabilities.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Jimenez transportation purchased five new transportation vehicles in 2016. they plan to pay these vehicles off in even installments over ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers