Refer to the following list of liability balances at December 31, 2018:Accounts Payable $ 13,000.00Employee Health Insurance Payable $ 450.00Employee Income Tax Payable $ 400.00Estimated Warranty Payable $ 600.00Long-Term Notes Payable (Due 2020) $ 33,000.00FICA-OASDI Taxes Payable $ 560.00Sales Tax Payable $ 370.00Mortgage Payable (Due 2030) $ 6,000.00Bonds Payable (Due 2021) $ 53,000.00Current Portion of Long-term Debt $ 3,500.00What is the total amount of current liabilities?A $ 14,980.00B $ 14,380.00C $ 15,380.00D $ 18,880.00

Current Liabilities are those liabilities or obligations which are to be paid within next one year.

Answered: What is the total amount of current…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 2EA: Consider the following accounts and determine if the account is a current liability, a noncurrent...

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

Accounts Payable		$ 13,000.00
Employee Health Insurance Payable		$ 450.00
Employee Income Tax Payable		$ 400.00
Estimated Warranty Payable		$ 600.00
Long-Term Notes Payable (Due 2020)		$ 33,000.00
FICA-OASDI Taxes Payable		$ 560.00
Sales Tax Payable		$ 370.00
Mortgage Payable (Due 2030)		$ 6,000.00
Bonds Payable (Due 2021)		$ 53,000.00
Current Portion of Long-term Debt		$ 3,500.00

What is the total amount of current liabilities?

A	$ 14,980.00
B	$ 14,380.00
C	$ 15,380.00
D	$ 18,880.00

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