Following is a list of account balances at the end of the year: Estimated Warranty Payable...

 

Transcribed Image Text:

Following is a list of account balances at the end of the year: Estimated Warranty Payable $1,000 Notes Payable (due in 3 annual installments) 6,000 Retained Earnings 15,000 Interest Payable 200 Accounts Payable Payroll Tax Expense Unearned commissions 4,500 The correct amount of current liabilities that would be reported on the balance sheet is: A. $14,700. B. $21,700. C. $19,200. D. $18,700. 11,500 2,500 Following is a list of account balances at the end of the year: Estimated Warranty Payable $1,000 Notes Payable (due in 3 annual installments) 6,000 Retained Earnings 15,000 Interest Payable 200 Accounts Payable Payroll Tax Expense Unearned commissions 4,500 The correct amount of current liabilities that would be reported on the balance sheet is: A. $14,700. B. $21,700. C. $19,200. D. $18,700. 11,500 2,500

Answer rating: 100% (QA)

Current liability Warranty payable Notes ... View the full answer