Question
The following items are taken from the Postal Service's financial statements for the year ending December 31, 2015: Accounts payable $ 18,000 accounts receivable 11,000
The following items are taken from the Postal Service's financial statements for the year ending December 31, 2015:
Accounts payable | $ 18,000 |
accounts receivable | 11,000 |
Accumulated depreciation - equipment | 28,000 |
advertising expenses | 21,000 |
Money | 15,000 |
Common actions | 42,000 |
dividends | 14,000 |
depreciation expense | 12,000 |
insurance costs | 3,000 |
Document payable, due on 06/30/16 | 70.000 |
Prepaid insurance (12 month policy) | 6,000 |
Rental costs | 17,000 |
Retained earnings (1/1/15) | 60.000 |
Wage and salary expenses | 32,000 |
Service revenues | 133,000 |
supplies | 4,000 |
Supply expenses | 6,000 |
Equipment | 210,000 |
What are the total current liabilities as of December 31, 2015?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Accounts payable 18000 Document payable due on 063016 70000 Prepaid in...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 StartedRecommended Textbook for
College Accounting
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
11th edition
978-1111528300, 1111528128, 1111528306, 978-1111528126
Students also viewed these Accounting questions
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
View Answer in SolutionInn App