Refer to the following liability balances of December 31, 2023, for Quaker Industries: Liability Amount Accounts payable |$24,500 Employee health insurance payable $1,200 Employee income tax payable $1,650 Estimated warranty payable $3,400 | Long-term notes payable (Due 2025) $42,000 FICA-OASDI taxes payable $1,850 Sales tax payable $950 Mortgage payable (Due 2026) $28,000 Bonds payable (Due 2027) $75,000 Current portion of long-term notes payable $14,000 What is the total amount of current liabilities?
Refer to the following liability balances of December 31, 2023, for Quaker Industries: Liability Amount Accounts payable |$24,500 Employee health insurance payable $1,200 Employee income tax payable $1,650 Estimated warranty payable $3,400 | Long-term notes payable (Due 2025) $42,000 FICA-OASDI taxes payable $1,850 Sales tax payable $950 Mortgage payable (Due 2026) $28,000 Bonds payable (Due 2027) $75,000 Current portion of long-term notes payable $14,000 What is the total amount of current liabilities?
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter17: Business Tax Credits And The Alternative Minimum Tax
Section: Chapter Questions
Problem 1BD
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Question
What is the total amount of current liabilities?
Transcribed Image Text:Refer to the following liability balances of December 31, 2023, for
Quaker Industries:
Liability
Amount
Accounts payable
|$24,500
Employee health insurance payable
$1,200
Employee income tax payable
$1,650
Estimated warranty payable
$3,400
| Long-term notes payable (Due 2025)
$42,000
FICA-OASDI taxes payable
$1,850
Sales tax payable
$950
Mortgage payable (Due 2026)
$28,000
Bonds payable (Due 2027)
$75,000
Current portion of long-term notes payable $14,000
What is the total amount of current liabilities?
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