What is the total amount of current liabilities to be reported on xyz company's 12/31/x1 classified balance sheet? $22,600 $74,3
1 answer:
Based on the financial details given, the total amount of current liabilities on xyz company's 12/31/x1 classified balance sheet is $22,600.
<h3>What are the total current liabilities?</h3>The current liabilities can be found by the formula:
= Accounts Payable + Salaries Payable + Interest Payable + Utilities Payable
As the above are all the current liabilities to XYZ company, the current liabilities are:
= 11,300 + 2,500 + 1,900 + 6,900
= $22,600
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