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satela [25.4K]
3 years ago
6

The following information is for Bright Eyes Auto Supplies: Bright Eyes Auto Supplies Balance Sheet December 31, 2015 Cash $ 40,

000 Accounts Payable $ 130,000 Prepaid Insurance 80,000 Salaries and Wages Payable 50,000 Accounts Receivable 100,000 Mortgage Payable 150,000 Inventory 140,000 Total Liabilities 330,000 Land Held for Investment 180,000 Land 250,000 Buildings $200,000 Common Stock $400,000 Less Accumulated Retained Earnings 340,000 740,000 Depreciation (60,000) 140,000 Trademark 140,000 Total Assets $1,070,000 Total Liabilities and Stockholders’ Equity $1,070,000 The total dollar amount of liabilities to be classified as current liabilities is:_________.
A. $180,000.
B. $130,000.
C. $50,000.
D. $330,000.
Business
1 answer:
erma4kov [3.2K]3 years ago
8 0

Answer:

$180,000

Explanation:

Relevant Data provided to compute the total current liabilities is here below:-

Accounts payable = $130,000

Salaries and wages payable = $50,000

The computation of total dollar amount of liabilities is shown below:-

Total current liabilities = Accounts payable + Salaries and wages payable

= $130,000 + $50,000

= $180,000

Therefore for computing the total current liabilities we simply added the accounts payable and salaries and wages payable.

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Answer:

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Answer:

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Gomez runs a small pottery firm. He hires one helper at $14,500 per year, pays annual rent of $7,500 for his shop, and spends $1
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Answer:

a). Accounting profits=$6,000

b). Economic profit=-$6,000

Explanation:

a). The accounting profits for Gomez's pottery firm can be expressed in the form;

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Economic profit=(97,000-103,000)=-$6,000

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