Refer to the following list of liability balances at December 31, 2018. Accounts Payable $ 17 comma 000 Employee Health Insurance Payable 550 Employee Income Tax Payable 700 Estimated Warranty Payable (Due 2019) 1 comma 500 LongminusTerm Notes Payable (Due 2022) 35 comma 000 FICAlong dashOASDI Taxes Payable 1 comma 260 Sales Tax Payable 970 Mortgage Payable (Due 2023) 12 comma 000 Bonds Payable (Due 2024) 55 comma 000 Current Portion of LongminusTerm Notes Payable 4 comma 500 What is the total amount of current liabilities? A. $ 26 comma 480 B. $ 21 comma 280

Question

Renee Hensley

Business

15 April, 01:51

Refer to the following list of liability balances at December 31, 2018. Accounts Payable $ 17 comma 000 Employee Health Insurance Payable 550 Employee Income Tax Payable 700 Estimated Warranty Payable (Due 2019) 1 comma 500 LongminusTerm Notes Payable (Due 2022) 35 comma 000 FICAlong dashOASDI Taxes Payable 1 comma 260 Sales Tax Payable 970 Mortgage Payable (Due 2023) 12 comma 000 Bonds Payable (Due 2024) 55 comma 000 Current Portion of LongminusTerm Notes Payable 4 comma 500 What is the total amount of current liabilities? A. $ 26 comma 480 B. $ 21 comma 280

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Answers (1)

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Betty Boop · Answer 1

Total current Liabilities 25,510

Explanation:

Current Liablities:

obligation to pay or do within a year.

From December 31th, 2018 all liablities due 2019 will be current

Beyond 2019 will be non-current

List of Current Liabilities at December 31th, 2018

Account Payable 17,000

EHI payable 550

Employee IT payable 700

Estimated Warranty 1,500

FICA-OASDI 1,260

Current Notes 4,500

Total current Liabilities 25,510