What are my total liabilities? Which option is correct? I don\'t know what its a

Question

What are my total liabilities? Which option is correct? I don't know what its asking?

Refer to the following list of liability balances at December 31, 2018. $22,000 1,450 400 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 1,200 37,000 1,560 1,270 7,000 53,000 7,500 OA. $35,380 B. $27,480 O C. $27,880 O D. $26,280

Explanation / Answer

A. $35380 ,

Total current liabilities = Accounts payable + Employee health insurance payable + employee income tax payable + Estimated warranty payable (Due 2019 ) + FICA - taxes payable + sales tax payable + Current portion of long term notes payable

= 22000 + 1450 + 400 + 1200 + 1560 + 1270 + 7500

  = $35380

Note:- Current liabilities are to be paid within 12 months of a year

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