Using the following information, compute total CURRENT LIABILITIES: Hint: “Unear

Question

Using the following information, compute total CURRENT LIABILITIES:

Hint: “Unearned revenue” is an obligation to deliver a service that has not yet been delivered but for which the customer has already paid.

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  $10,700

  $19,950

  $20,350

  $19,700

  $21,700

  $10,700

  $19,950

  $20,350

  $19,700

  $21,700

Explanation / Answer

Answer:

Total Current Liabilities = Accrued Income tax + Current Portion of Long Term Debt + Unearned revenue+ accounts payable

= $ 9000 + 10000+250+700 = $ 19950

Thanks

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