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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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
Transcribed Image Text: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
Amount
120,000
180,000
55,000
$ 2,000,000
$ 1,140,000
Interest payable
32,000
Payroll taxes payable
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
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