Home For AAT student members AQ 2016 Foundation Certificate in accounting General discussion - Foundation level
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Please Help!!! How to calculate the Total Debt?

I am new to accounting, and I am really confused about what total debt includes. I've seen the liabilities section below, but I do not know how to categorize each account.

Current Liabilities:
* Deferred Revenue
* Accounts Payable
* Income Tax Payable
* Gift Card Payable
* Accrued Compensation & Benefits
* Accrued Expenses
* Current portion of long-term debt and capital lease obligation
* Current portion of deferred lease credits

Long-term Liabilities:
* Other liabilities
* Deferred Income Tax
* Long-term debt and capital lease obligations, net of current portion
* Deferred lease credits, net of current

I hope to know what accounts should belong to total debt. How should I fill out the form below?

Current Portion of Total Indebtedness:
Non-Current Portion of Total Indebtedness:

Thank you very much!!!!!!


  • Clintm15Clintm15 Well-Known FarehamRegistered Posts: 247
    I assume they want you to remove the deferred charges and focus on actual tangible debt, rather than accounting adjustments.

    Level 2 - 2011
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    F4 - Corporate Law - Dec 2015 (passed)
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