C aSecure https://newconnect.mheducation.com/flow/connect.html Chapter 2 Quiz Sa

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C aSecure https://newconnect.mheducation.com/flow/connect.html Chapter 2 Quiz Saved 6 Constable Co. reported the following information at December 31, Year 1 Accounts Payable Accounts Receivable Cash Common Stock Equipment Inventory Notes Payable due December 31, Year 3 Retained Earnings, December 31, Year 1 Wages Payable $4,650 9,500 24,990 91,500 51,000 32,700 2,650 14,240 5,150 10 points 00:38:17 What is the amount of current liabilities on the classified balance sheet? Multiple Choice $4,650

Explanation / Answer

6) Calculate total amount of current liabilities

So answer is $9800

7) Cash ending balance = 69300+18420-16040 = 71680

So answer is d) $71680 Debit

8) Correct cash balance = 31800+36000+63000-16500-48000 = 66300

So answer is b) $66300

9)Stockholders equity = (25550-3630)-(8630+2930) = 10360

So answer is b) $10360

10) Total current assets = 28170+301890 = 330060

So answer is $330060

Account payable 4650 Wages payable 5150 Total current liabilities 9800

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