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1 Current liabilities are those that will become due, or must be paid, within one year. 2  Long-term liabilities are debts and other non-debt financial obligations, which are due after a period of at least one year from the date of the balance sheet.
Step 6. Add total current liabilities to total long-term liabilities. The result is the companyâs total liabilities. For instance, a company with total current liabilities of $87,000 and total long-term liabilities of $123,000 has total liabilities of $210,000.Step 7. Subtract total liabilities from total assets to determine the companyâs equity.For example, a company with $210,000 total liabilities and $324,000 total assets has $114,000 in equity.tep 6. Add total current liabilities to total long-term liabilities. The result is the companyâs total liabilities. For instance, a company with total current liabilities of $87,000 and total long-term liabilities of $123,000 has total liabilities of $210,000.