The following information is for Sunny Day Real Estate: The total dollar amount of liabilities to be classified as current liabilities is
A)$15,000.
B)$60,000.
C)$75,000.
D)$160,000.

Question

The following information is for Sunny Day Real Estate:  The total dollar amount of liabilities to be classified as current liabilities is
A)$15,000. 
B)$60,000. 
C)$75,000. 
D)$160,000.

Quizplus · Accepted Answer

The information provided does not give us a breakdown of the liabilities, but we can assume that all liabilities listed are current since there is no mention of long-term liabilities. Therefore, we add up all liabilities listed which equals $75,000.

The Following Information Is for Sunny Day Real Estate