# How should I classify a loan with less than 12 months left when constructing personal financial statements?

If I have a loan that I will finish repaying over the next 5 months (original tenure is 5 years so I've paid 55 monthly repayments already), if I'm constructing a financial statement today, does this fall under current liability or a short term debt?

Total loan = $100K Interest rate = 2% Monthly repayment =$1753

a. Under Balance Sheet, will this loan fall under current liabilities or non-current liabilities? Assuming it falls under current liabilities, then will the amount be = $1753 * 5months =$8765?

b. Under Cash flow statement, the cash outflow for the accounting year = $1753 * 5months =$8765?

c. Since Net Worth = Assets - Liabilities, when a liability (aka loan) has been fully repaid, how does it affect the numbers?

Similarly, in a situation where the remaining loan repayment has 15 months left instead, how will this affect things?

a. under Balance sheet, will this fall under non-current liabilities where the amount = $1753 * 15? b. Under cash flow statement, the cash outflow for the accounting year will be$1753 * 12?Is that right?