Garon Company disclosed the following liability account balances on December 31, 2016: Accounts payable 1,900,000.00 3,400,000.00 Bonds payable Premium on bonds payable 200,000.00 Deferred tax payable 400,000.00 Dividends payable 500,000.00 Income tax payable 800,000.00 Notes payable, due January 31, 2017 700,000.00 The deferred tax liability is based on temporary differences that will reverse in 2016. On December 31, 2016, what total amount should be reported as current liability? 7,100,000 3,900,000 4,300,000 4,100,000
Garon Company disclosed the following liability account balances on December 31, 2016: Accounts payable 1,900,000.00 3,400,000.00 Bonds payable Premium on bonds payable 200,000.00 Deferred tax payable 400,000.00 Dividends payable 500,000.00 Income tax payable 800,000.00 Notes payable, due January 31, 2017 700,000.00 The deferred tax liability is based on temporary differences that will reverse in 2016. On December 31, 2016, what total amount should be reported as current liability? 7,100,000 3,900,000 4,300,000 4,100,000
Chapter12: Tax Credits And Payments
Section: Chapter Questions
Problem 23P
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