The Following Items Are Taken from the Financial Statements of the Postal

question 187

Multiple Choice

The following items are taken from the financial statements of the Postal Service for the year ending December 31, 2018: $\begin{array}{lr}\text { Accounts payable } & 18,000 \\\text { Accounts receivable } & 11,000 \\\text { Accumulated depreciation - equipment } & 28,000 \\\text { Advertising expense } & 21,000 \\\text { Cash } & 15,000 \\\text { Common stock } & 42,000 \\\text { Dividends } & 14,000 \\\text { Depreciation expense } & 12,000 \\\text { Insurance expense } & 3,000 \\\text { Note payable, due } 6 / 30 / 19 & 70,000\\\text { Prepaid insurance (12-month policy) } & 6,000 \\\text { Rent expense } & 17,000 \\\text { Retained earnings }(1 / 1 / 18) & 60,000 \\\text { Salaries and wages expense } & 32,000 \\\text { Service revenue } & 133,000 \\\text { Supplies } & 4,000 \\\text { Supplies expense } & 6,000 \\\text { Equipment } & 210,000\end{array}$ What are total current liabilities at December 31, 2018?

• A) $18,000
• B) $70,000
• C) $88,000
• D) $120,000

---

Definitions:

Heterozygous

Inheriting from parents different forms of a gene for a given trait.

Monozygous

Pertains to monozygotic twins, twins resulting from a single fertilized egg that splits, resulting in two genetically identical individuals.

Dizygotic

Refers to twins that are fraternal, meaning they developed from two different eggs fertilized by two different sperm, resulting in genetically distinct siblings.

Monozygotic

Relating to twins who have developed from a single fertilized ovum, making them genetically identical.