 Excel accounting practice problem loan payable short-term and long-term portion Here we are in our Excel worksheet in prior presentations We put together the worksheet from a blank sheet now continuing to enter transactions into it if you have access to it There's two tabs on down below an example tab and a practice tab the practice tab starting out where we left off last time The example tab in essence being an answer key. Let's look at it now We're focusing in on the loans Breaking out the short-term and long-term portions of them Remembering that short-term and long-term for presentation purposes on the financial statements Means that the short-term or current portion of a loan or current liabilities are going to be due within a year Long-term liabilities are then due past a year So we have a couple problems with the loans because you might have a situation where one loan has a current portion to it and a long-term portion Or multiple loans might have a current portion and long-term portion so