Solution-Compute amount that classified as current

Compute amount that classified as current liabilities

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Question - Glover Corporation's trial balance for December 31, the end of its fiscal year, included the following accounts:

Accounts Payable $40,000

Dividends Payable 22,000

Bond Payable, maturing in 9 years 36,000

Salaries Payable 9,000

Note Payable, due in 1 year 30,000

Note payable, due in 5 years 60,000

Compute the amount that should be classified as current liabilities on Glover's December 31 balance sheet?

a. $71,000

b. $79,000

c. $101,000

d. $161,000

Reference no: EM132567325

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Compute amount that classified as current liabilities

Reference no: EM132567325

Reference no: EM132567325

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