Different liabilities of Company Z Itd. are shown as under:ParticularsAccounts PayableNotes Payable (Current Portion)Salaries and wages payable10 Year BondsInstallment notes payableAmount120,000180,00055,000$ 2,000,000$ 1,140,000Interest payable32,000Payroll taxes payable15,500What would be the total current liabilities reported in the balance sheet?a. Total current liabilities would be $202,500b. Total current liabilities would be $440,500c. Total current liabilities would be $1,542,500d. Total current liabilities would be $402,500

Balance sheet: A balance sheet is a statement of assets, liability, and equity. It is prepared after…

Different liabilities of Company Z Itd. are shown as under: Particulars Accounts Payable |Notes Payable (Current Portion) Salaries and wages payable 10 Year Bonds Installment notes payable Interest payable | Payroll taxes payable Amount 120,000 180,000 | 55,000 S 2,000,000 S 1,140,000 32,000 15,500 What would be the total current liabilities reported in the balance sheet? a. Total current liabilities would be $202,500 b. Total current liabilities would be $440,500 c. Total current liabilities would be $1,542,500 d. Total current liabilities would be $402,500

Different liabilities of Company Z Itd. are shown as under: Particulars Accounts Payable |Notes Payable (Current Portion) Salaries and wages payable 10 Year Bonds Installment notes payable Interest payable | Payroll taxes payable Amount 120,000 180,000 | 55,000 S 2,000,000 S 1,140,000 32,000 15,500 What would be the total current liabilities reported in the balance sheet? a. Total current liabilities would be $202,500 b. Total current liabilities would be $440,500 c. Total current liabilities would be $1,542,500 d. Total current liabilities would be $402,500

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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