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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: $620,000 358,000 Total
Diane Corporation is preparing its year-end balance sheet. The company records show the following selected amounts at the end of the year: $620,000 358,000 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 21,000 55,000 11,000 5 5,000 10,000 117,000 10,000 6,000 16,000 500 240,000 Required: 1-a. What is the amount of current liabilities? Current liabilities Prev 12 of 22 Next >
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