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Diane Corporation is preparing its year-end balance sheet. The company records show the following selected amounts at the end of the year: $630,000 350,000 Total
Diane Corporation is preparing its year-end balance sheet. The company records show the following selected amounts at the end of the year: $630,000 350,000 Total assets Total noncurrent assets Liabilities: Notes payable (8%, due in 5 years) Accounts payable Income taxes payable Liability for withholding taxes Rent revenue collected in advance Bonds payable (due in 15 years) Wages payable Property taxes payable Note payable (10%, due in 6 months) Interest payable Common stock 23,000 55,000 14,000 3,000 9,000 94,000 9,000 5,000 14,000 500 230,000 Required: 1-a. What is the amount of current liabilities? Current liabilities 1-b. Compute working capital. Working capital
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