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CASH – 500,000 ACCOUNTS RECEIVABLE – 300,000 NOTES RECEIVABLE (2 YEARS) – 200,000 NOTES RECEIVABLE (TRADE) – 300,000 NOTES RECEIVABLE – 400,000 ACCOUNTS PAYABLE – 600,000 OFFICE EQUIPMENT – 250,0000 NOTES PAYABLE (3 YEARS) – 300,000 BONDS PAYABLE (MATURING IN 6 MOS.) – 300,000 MORTGAGE PAYABLE – 400,000 OWNERS EQUITY, (BEGINNING BALANCE) – 600,000 OWNER DRAWING/WITHDRAWAL – 200,000 NET LOSS – (300,000)   How much is the total current liabilities? 600,000 1,000,000 900,000 1,300,000

CASH – 500,000 ACCOUNTS RECEIVABLE – 300,000 NOTES RECEIVABLE (2 YEARS) – 200,000 NOTES RECEIVABLE (TRADE) – 300,000 NOTES RECEIVABLE – 400,000 ACCOUNTS PAYABLE – 600,000 OFFICE EQUIPMENT – 250,0000 NOTES PAYABLE (3 YEARS) – 300,000 BONDS PAYABLE (MATURING IN 6 MOS.) – 300,000 MORTGAGE PAYABLE – 400,000 OWNERS EQUITY, (BEGINNING BALANCE) – 600,000 OWNER DRAWING/WITHDRAWAL – 200,000 NET LOSS – (300,000)   How much is the total current liabilities? 600,000 1,000,000 900,000 1,300,000

FINANCIAL ACCOUNTING
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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CASH – 500,000
ACCOUNTS RECEIVABLE – 300,000
NOTES RECEIVABLE (2 YEARS) – 200,000
NOTES RECEIVABLE (TRADE) – 300,000
NOTES RECEIVABLE – 400,000
ACCOUNTS PAYABLE – 600,000
OFFICE EQUIPMENT – 250,0000
NOTES PAYABLE (3 YEARS) – 300,000
BONDS PAYABLE (MATURING IN 6 MOS.) – 300,000
MORTGAGE PAYABLE – 400,000
OWNERS EQUITY, (BEGINNING BALANCE) – 600,000
OWNER DRAWING/WITHDRAWAL – 200,000
NET LOSS – (300,000)

 

How much is the total current liabilities?

600,000

1,000,000

900,000

1,300,000

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