The balance sheet shows the following accounts and amounts: Inventory, $42,000: Long-term Debt 62,500, Common Stock...

Transcribed Image Text:

The balance sheet shows the following accounts and amounts: Inventory, $42,000: Long-term Debt 62,500, Common Stock $30.000, Accounts Payable $22,000; Cash $66,000, Buildings and Equipment $195,000; Short-term Debt $24.000, Accounts Receivable $54,500, Retained Earnings $102,000, Notes Payable (nine month) $27,000. Accumulated Depreciation $90,000 Total current liabilities on the balance sheet are: The balance sheet shows the following accounts and amounts: Inventory, $42,000: Long-term Debt 62,500, Common Stock $30.000, Accounts Payable $22,000; Cash $66,000, Buildings and Equipment $195,000; Short-term Debt $24.000, Accounts Receivable $54,500, Retained Earnings $102,000, Notes Payable (nine month) $27,000. Accumulated Depreciation $90,000 Total current liabilities on the balance sheet are:

Answer rating: 100% (QA)

To determine the total current liabilities on the balance sheet we need to identify the accounts that fall under current liabilities Typically current liabilities include obligations that are expected ... View the full answer