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
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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
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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