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Preparing the Current Liabilities Section Prepare the current liabilities section of a classified balance sheet given the following account balances on December 31, 2020. Dividends
Preparing the Current Liabilities Section Prepare the current liabilities section of a classified balance sheet given the following account balances on December 31, 2020. Dividends payable $7,200 Accounts payable $108,000 Bonds payable (matures December 2028) 90,000 Income taxes payable 25,200 Interest payable 1,800 Deferred revenue (long-term) 9,000 Note payable (due June 30, 2021) 36,000 Note: Enter current liabilities in the order of the largest dollar amount to the smallest dollar amount. Current Liabilities Section As of December 31, 2020 Accounts payable $ 0 Note payable 0 Income taxes payable 0 0 0 Total current liabilities $ 0
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