Gladstone Company liabilities include $13,500 of accounts payable, $8,000 of wages payable, $6,300 of unearned revenue, $32,000 note payable due in 18 months, $70,000 of 10-year bonds payable, and $41,000 of taxes payable. Gladstone's current liabilities equal:
A)$59,800
B)$68,800
C)$60,800
D)$62,500
E)$100,800

Question

Quizplus · Accepted Answer

Current liabilities include accounts payable, wages payable, unearned revenue, and taxes payable. Adding these: $13,500 + $8,000 + $6,300 + $41,000 = $68,800.

Gladstone Company Liabilities Include $13,500 of Accounts Payable, $8,000 of Wages