Refer to the following list of liability balances at December 31, 2015. $$\begin{array} { | l | r | }
\hline \text { Accounts Payable } & \$ 13,000 \
\hline \text { Employee Health Insurance Payable } & 450 \
\hline \text { Employee Income Tax Payable } & 400 \
\hline \text { Estimated Warranty Payable } & 600 \
\hline \text { Long-Term Notes Payable(Due 2019) } & 33,000 \
\hline \text { FICA-OASDI Taxes Payable } & 560 \
\hline \text { Sales Tax Payable } & 370 \
\hline \text { Mortgage Payable(Due 2020) } & 6,000 \
\hline \text { Bonds Payable(Due 2021) } & 53,000 \
\hline \text { Current Portion of Long-Term Notes Payable } & 3,500 \
\hline
\end{array}$$ What is the total amount of current liabilities?

Question

Refer to the following list of liability balances at December 31, 2015. $$\begin{array} { | l | r | } 
\hline \text { Accounts Payable } & \$ 13,000 \
\hline \text { Employee Health Insurance Payable } & 450 \
\hline \text { Employee Income Tax Payable } & 400 \
\hline \text { Estimated Warranty Payable } & 600 \
\hline \text { Long-Term Notes Payable(Due 2019) } & 33,000 \
\hline \text { FICA-OASDI Taxes Payable } & 560 \
\hline \text { Sales Tax Payable } & 370 \
\hline \text { Mortgage Payable(Due 2020) } & 6,000 \
\hline \text { Bonds Payable(Due 2021) } & 53,000 \
\hline \text { Current Portion of Long-Term Notes Payable } & 3,500 \
\hline
\end{array}$$ What is the total amount of current liabilities?

Quizplus · Accepted Answer

Current liabilities include obligations due within one year: Accounts Payable ($13,000), Employee Health Insurance Payable ($450), Employee Income Tax Payable ($400), Estimated Warranty Payable ($600), FICA-OASDI Taxes Payable ($560), Sales Tax Payable ($370), and the Current Portion of Long-Term Notes Payable ($3,500). The total is $18,880.

Refer to the Following List of Liability Balances at December