Question

Calculate current liabilities Sales Revenue $25,000 Accounts Payable $1,200 Accounts Receivable $2,600 Inventory $3,200 Supplies $300 Cost of Goods Sold $16,000 Notes Payable (due in 2 years) $24,000 Equipment $40,000 Accumulated Depreciation $12,000 Land $30,000 Unearned Revenue $1,100 Taxes Payable $1,400 Prepaid Rent (3 months) $2,100 Cash $5,200

Answer 1

$3,700

Step-by-step explanation:

Calculation for the current liabilities

CURRENT LIABILITIES

Account Payables $1,200

Unearned revenues $1,100

Taxes Payable $1,400

Total current liabilities $3,700

Therefore the Total current liabilities is $3,700