Intermediate Accounting (16th Edition)

Published by Wiley
ISBN 10: 1118743202
ISBN 13: 978-1-11874-320-1

Chapter 5 - Balance Sheet and Statement of Cash Flows - Review and Practice - Brief Exercises - Page 239: BE5-8

Answer

Current Liabilities Accounts Payable $220,000 Add: Unearned Rent Revenue $41,000 Add: Salaries and Wages Payable $27,000 Add: Interest Payable $12,000 Add: Income Tax Payable $29,000 Total current liabilities $329,000

Work Step by Step

Adam's Company total current liabilities equals to= $329,000
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