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A mortgage of $420,0 has principal payments totaling $120,0 that are due within the next year.

The remaining $300,0 is not due until after one year. How is the mortgage shown on the balance sheet?1. As a current liability of $420,02. As a long-term liability of $420,03. As another liability of $420,0 with a footnote breaking out current and long-term portions4. As a current liability of $120,0 and a long-term liability of $300,05. As a disclosure item only

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Question added by SREEDEVI SUNILKUMAR , Business finance officer , Emirates Airline
Date Posted: 2014/04/20
Subrahmanyam Lingamallu
by Subrahmanyam Lingamallu , Accounting Director , Nadec

Current portion of long-term liability120,0

Long-term liability300,0 

In the finanical statement it will be shown as

Current liability ( current portion of long term liability) $120

Long term liability $300.

with an explanation of this treatment in the Notes to the financial statment..

Muhammad Ahsan
by Muhammad Ahsan , General Accountant , Emirates Hospitals Group

4. identifying long terrm and current portion separately

Jed Adtogan
by Jed Adtogan , Storekeeper , Department of Education

Answe is No.4

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