Fill This Form To Receive Instant Help

Help in Homework
trustpilot ratings
google ratings


Homework answers / question archive / Given the following information calculate the amount of current liabilities

Given the following information calculate the amount of current liabilities

Finance

Given the following information calculate the amount of current liabilities.

 

Provision for bad debt

$23,800

Cash

$30,000

Patient revenues (net of contractuals)

$275,000

Net accounts receivable

$42,100

Ending balance, temporarily restricted net assets

$15,900

Wages payable

$6,500

Inventory

$2,800

Long-term debt

$143,000

Supply expense

$55,000

Gross plant, property, and equipment

$290,000

Net assets released from temporary restriction

$2,100

Depreciation expense

$13,000

Accounts payable

$15,000

Beginning balance, temporarily restricted net assets

$18,000

Interest expense

$9,000

Labor expense

$119,000

 

A) 15,000

B) 195,500

C) 76,500

D) 21,500

pur-new-sol

Purchase A New Answer

Custom new solution created by our subject matter experts

GET A QUOTE

Answer Preview

Computation of Current Liabilities:

Current Liabilities = Accounts payable + Wages Payable

Current liabilities = $15,000 + $6,500

Current Liabilities = $21,500

 

Note: Current liabilities are those liabilities that is due and payable under less than 1 year term.