What is the amount of current liabilities on the classified balance sheet?
A)$9,450
B)$6,950
C)$113,540
D)$4,500

Name: What is the amount of current liabilities on the classified balance sheet? A)$9,450 B)$6,950 C)$113,540 D)$4,500
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Question

Quizplus · Accepted Answer

The amount of current liabilities is found by adding the accounts payable ($2,750), salaries payable ($2,200), taxes payable ($700), and interest payable ($1,300), which equals $6,950. Therefore, B is the correct choice.

What Is the Amount of Current Liabilities on the Classified