Question
Ces The December 31, 2021 (pre-closing) adjusted trial balance for Kline Enterprises was as follows: Account Title Debit Accounts payable Credit 90,000 Accounts receivable
Ces The December 31, 2021 (pre-closing) adjusted trial balance for Kline Enterprises was as follows: Account Title Debit Accounts payable Credit 90,000 Accounts receivable 170,000 Accumulated depreciation-equipment 260,000 Common stock 490,000 Cash 26,000 Cost of goods sold 480,000 Depreciation expense 60,000 Equipment 700,000 Interest expense 4,000 Inventory 150,000 Note payable (due in.six months) 60,000 Rent expense 30,000 Retained earnings 62,000 Salaries payable 8,000 Sales revenue Salaries expense Totals 770,000 120,000 1,740,000 1,740,000 Required: Compute Kline's 12/31/2021 total current liabilities: Current liabilities
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started