Refer to the following list of liability balances at December 31, 2018. Accounts

Question

Refer to the following list of liability balances at December 31, 2018. Accounts Payable Employee Health Insurance Payable Employee Income Tax Payable Estimated Warranty Payable (Due 2019) Long- Term Notes Payable (Due 2022) FICA-OASDI Taxes Payable Sales Tax Payable Mortgage Payable (Due 2023) Bonds Payable (Due 2024) Current Portion of Long- Term Notes Payable What is the total amount of current liabilities? $25,000 850 700 1,600 40,000 6Gb 670 14,000 53,000 13.500 OA. $42,980 OB. $29.480 OC, $27.180 O D. $28,780

Explanation / Answer

Current Liabilities Accountss Payable 25000 Employees health insurance Payable 850 Employee Income tax payable 700 Estimated warranty Payable due in 2019 1600 FICA-OASDI Taxes payable 660 Sales Tax Payable 670 Current portion of long term Notes Payable 13500 Total 42980 Correct Answer is alternative A 42980

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