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Homework answers / question archive / GAMA trial balance for December 31, the end of its fiscal year, included the following accounts: Accounts Payable $39,000 Dividends Payable 15,000 Bond Payable, maturing in 9 years 36,000 Salaries Payable 7,000 Prepaid Rent 3,000 Note Payable, due in 1 year 30,000 Current portion of long term debit 70,000 QUESTION : CALCULATE The amount that should be classified as current liabilities on GAMA's December 31 balance sheet is ? WRITE YOUR ANSWER EXACT NUMBER
GAMA trial balance for December 31, the end of its fiscal year, included the following accounts:
Accounts Payable |
$39,000 |
Dividends Payable |
15,000 |
Bond Payable, maturing in 9 years |
36,000 |
Salaries Payable |
7,000 |
Prepaid Rent |
3,000 |
Note Payable, due in 1 year |
30,000 |
Current portion of long term debit |
70,000 |
QUESTION : CALCULATE The amount that should be classified as current liabilities on GAMA's December 31 balance sheet is ? WRITE YOUR ANSWER EXACT NUMBER
Current laibilities=accounts payables+dividends payables+salaries payables+Notes payables+current portion of long term debt=39000+15000+7000+30,000+70,000=161,000