Question

The Pioneer Company has provided the following account balances: Cash $38,000; Short-term investments $4,000; Accounts receivable $48,000; Supplies $6,000; Long-term notes receivable $2,000; Equipment $96,000; Factory Building $180,000; Intangible assets $6,000; Accounts payable $30,000; Accrued liabilities payable $4,000; Short-term notes payable $14,000; Long-term notes payable $92,000; Common stock $180,000; Retained earnings $60,000. What are Pioneer's total current liabilities?

Answer 1

The total current liabilities of the Pioneer Company are calculated by summing the Accounts payable, Accrued liabilities payable, and Short-term notes payable, which result in $48,000.

Step-by-step explanation:

The Pioneer Company's total current liabilities are the sum of all debts and obligations the company is required to pay within one year. Based on the information provided, the current liabilities include Accounts payable, Accrued liabilities payable, and Short-term notes payable.

Calculating these amounts, we get:

• Accounts payable: $30,000
• Accrued liabilities payable: $4,000
• Short-term notes payable: $14,000

Adding these three figures together gives us the total current liabilities:

• $30,000 (Accounts payable) + $4,000 (Accrued liabilities payable) + $14,000 (Short-term notes payable)
• = $48,000

Therefore, the Pioneer Company's total current liabilities are $48,000.

Answer 2

$48000

Step-by-step explanation:

Given: Accounts payable $30,000;

Accrued liabilities payable $4,000;

Short-term notes payable $14,000.

Current Liability: It is a financial obligation of the company that need to be paid in a short period of time, within one year or within normal operating cycle.

Now, computing current liabilities from the given information.

Current liability=
`Account\ payable+ Accrued\ liabilities\ payable+ Short-term\ notes\ payable`

⇒ Current liability=
`\$ 30000+\$4000+\$ 14000`

∴ Current liability= $48000

Hence, Pioneer's total current liabilities is $48000.