Calculate current maturity of long term debt?

The current maturity of a long term debt (which is a short-term liability) is the amount of principal that is being paid in the current year. An entry is normally booked at the close of each entity's fiscal year for the amount that is due the following 12 months. Entry is:

Long-term Debt (bonds, bank loans, etc.) (debit) (due this year)

Current Maturity of Long Term Debt (credit) (due this year)

As principal is paid down (sometimes monthly) entry is:

Current Maturity of Long Term Debt (debit) (paid this month)

Cash (credit) (paid this month)

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RE:

Calculate current maturity of long term debt?

If Mortgage Payable is 53,400, what is it's current maturity of long term debt?

How do you calculate it?

Thanks in advance!

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It's current assets minus current liabilities. On your lists, your current assets would be: Cash Marketable securities A/R Inventory Other current assets Your current liabilities would be: Current portion of long-term debt A/P Accrued liabilities Other current liabilities Hope that helps. :0)

right. but yaha apny ye to likha ni k kaha sy mily ga current portion of long term debt