The Pioneer Company has provided the following account balances: Cash $38,500; Short-term investments $4,500; Accounts receivable $6,500; Supplies $50,500; Long-term notes receivable $2,500; Equipment $98,500; Factory Building $185,000; Intangible assets $6,500; Accounts payable $29,500; Accrued liabilities payable $3,750; Short-term notes payable $15,000; Long-term notes payable $94,500; Common stock $185,000; Retained earnings $64,750. What are Pioneer's total current liabilities?

The Pioneer Company has provided the following account balances: Cash $38,500; Short-term investments $4,500; Accounts receivable $6,500; Supplies $50,500; Long-term notes receivable $2,500; Equipment $98,500; Factory Building $185,000; Intangible assets $6,500; Accounts payable $29,500; Accrued liabilities payable $3,750; Short-term notes payable $15,000; Long-term notes payable $94,500; Common stock $185,000; Retained earnings $64,750. What are Pioneer's total current liabilities?

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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Question

The Pioneer Company has provided the following account balances:

Cash $38,500;

Short-term investments $4,500;

Accounts receivable $6,500;

Supplies $50,500;

Long-term notes receivable $2,500;

Equipment $98,500;

Factory Building $185,000;

Intangible assets $6,500;

Accounts payable $29,500;

Accrued liabilities payable $3,750;

Short-term notes payable $15,000;

Long-term notes payable $94,500;

Common stock $185,000;

Retained earnings $64,750.

What are Pioneer's total current liabilities?

Definition Definition Remaining net income of the company after the required dividends are paid to shareholders. This surplus money is usually invested back into the business to expand its business operations or launch a new product.

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