Balance Sheet Liabilities should be recorded at their

Liabilities in balance sheets are simply debts. In a more general sense, they can be viewed as obligations that the company is expected to remit to the employees, creditors, vendors and so forth. Liabilities could be classified as current and noncurrent. While current liabilities can be paid within one year, noncurrent liabilities can only be paid after one year period. Download Balance Sheet Samples
Balance Sheet Format