Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Accounts Accounts Cash 30,000 Share capital-ordinary 60,000 Accumulated depreciation -equipment 10,000 Prepaid rent 5,000 Notes payable (Due in 4 months) 14,400 Accounts payable 3,600 Long
Accounts |
| Accounts |
|
Cash | 30,000 | Share capital-ordinary | 60,000 |
Accumulated depreciation -equipment | 10,000 | Prepaid rent | 5,000 |
Notes payable (Due in 4 months) | 14,400 | Accounts payable | 3,600 |
Long term investment | 37,320 | Salaries and Wages payable | 900 |
If this information was used to prepare a statement of financial position, Total current liabilities should be:
Select one:
a. 18,900
b. 3,600
c. 96.000
d. 78,000
e. 14,400
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started