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Refer to the following list of liability balances as of December 31, 2024: Liability Amount ($) Accounts Payable 18,000 Employee Health Insurance Payable 700 Employee Income Tax Payable Estimated Warranty Payable Long-Term Notes Payable (Due 2025) FICA-OASDI Taxes Payable 900 1,200 45,000 1,500 Sales Tax Payable Mortgage Payable (Due 2026) Bonds Payable (Due 2028) 600 15,000 65,000 Current Portion of Long-Term Notes Payable 10,500 What is the total amount of current liabilities? a) $33,400 b) $24,400 c) $25,400 d) $22,800

Refer to the following list of liability balances as of December 31, 2024: Liability Amount ($) Accounts Payable 18,000 Employee Health Insurance Payable 700 Employee Income Tax Payable Estimated Warranty Payable Long-Term Notes Payable (Due 2025) FICA-OASDI Taxes Payable 900 1,200 45,000 1,500 Sales Tax Payable Mortgage Payable (Due 2026) Bonds Payable (Due 2028) 600 15,000 65,000 Current Portion of Long-Term Notes Payable 10,500 What is the total amount of current liabilities? a) $33,400 b) $24,400 c) $25,400 d) $22,800

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 2EA: Consider the following accounts and determine if the account is a current liability, a noncurrent...
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Refer to the following list of liability balances as of December 31, 2024: Liability Amount ($) Accounts Payable 18,000 Employee Health Insurance Payable 700 Employee Income Tax Payable Estimated Warranty Payable Long-Term Notes Payable (Due 2025) FICA-OASDI Taxes Payable 900 1,200 45,000 1,500 Sales Tax Payable Mortgage Payable (Due 2026) Bonds Payable (Due 2028) 600 15,000 65,000 Current Portion of Long-Term Notes Payable 10,500 What is the total amount of current liabilities? a) $33,400 b) $24,400 c) $25,400 d) $22,800
Transcribed Image Text:Refer to the following list of liability balances as of December 31, 2024: Liability Amount ($) Accounts Payable 18,000 Employee Health Insurance Payable 700 Employee Income Tax Payable Estimated Warranty Payable Long-Term Notes Payable (Due 2025) FICA-OASDI Taxes Payable 900 1,200 45,000 1,500 Sales Tax Payable Mortgage Payable (Due 2026) Bonds Payable (Due 2028) 600 15,000 65,000 Current Portion of Long-Term Notes Payable 10,500 What is the total amount of current liabilities? a) $33,400 b) $24,400 c) $25,400 d) $22,800
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