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As of June 28, 2020, Cedar Fair had issued $201.5 million in season passes. Cedar Fair estimated that guests would use passes worth
$41.9 million during the remainder of 2020, $61.9 million from January 1 to June 30, 2021, and the remaining $97.7 million after June
30, 2021. What amounts should Cedar Fair classify as current versus noncurrent, in its balance sheet on June 28, 2020?

Respuesta :

Based on Cedar Fair issuance of season passes,$103.80 million would be classified under current whereas $97.7 million  is non-current

What does current classification indicates in the balance sheet?

The current classification in the balance sheet refers to assets that would be used up in up to a year or liabilities that would be settled within a year, any other item whose usage or settlement date is beyond 1 year is classified as non-current asset or liability.

In this case, Cedar Fair would classify the the amount of season passes usable within a year under the current liability  and the remainder value of season passes that would be used after after June30, 2021 as non-current liability.

current liability=$41.9 million+ $61.9 million=$103.80 million

non-current liability=$97.7 million

Find out more about current liability on:brainly.com/question/28346888

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