Region Jet has a $50 million liability at December 31,2018,of which $10 million is payable in 2019.In its December 31,2018 balance sheet,the company reports the $50 million debt as a:

Question

Quizplus · Accepted Answer

The $10 million payable in 2019 is a current liability, while the remaining $40 million is a long-term liability. Therefore, the company should report $10 million as a current liability and $40 million as a long-term liability on the balance sheet.

Region Jet Has a $50 Million Liability at December 31,2018,of