At the reporting date, Bottled owed $ 1 0 million to a bank. $ 1 million of

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Question:

At the reporting date, Bottled owed $

10

million to a bank.

1

million of this loan is due for repayment within

12

months and is presented as a current liability. The remaining $

9

million is presented as a non

-

current liability.

Required:

Explain the rationale for that presentation

Related Book For answer-question

Accounting For Business

ISBN: 9780198807797

3rd Edition

Authors: Peter Scott

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Posted Date: Apr 17, 2024 07:39 AM

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At the reporting date, Bottled owed $ 1 0 million to a bank. $ 1 million of

Question:

Expert Answer:

The rationale for presenting 1 million of the loan as a current liability and 9 million as a noncurr... View the full answer

Accounting For Business

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