Please Refer to the Following List of Liability Balances - What Is the Total Amount of Current Liabilities?
A)

question 60

Multiple Choice

Please refer to the following list of liability balances. $\begin{array}{|l|r|}\hline \text { Accounts payable } & \$ 12,000 \\\hline \text { Employee benefits payable } & 360 \\\hline \text { Employee income tax payable } & 190 \\\hline \text { Interest payable } & 1,300 \\\hline \text { Estimated warranty payable } & 2,600 \\\hline \text { Long-term notes payable } & 32,000 \\\hline \text { FICA tax payable } & 590 \\\hline \text { Sales tax payable } & 370 \\\hline \text { Long-term notes payable } & 4,000 \\\hline \text { Bond payable } & 50,000 \\\hline \text { Current portion of long-term notes payable } & 2,000 \\\hline\end{array}$
- What is the total amount of current liabilities?

• A) $19,410
• B) $68,270
• C) $18,270
• D) $105,410

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Definitions:

Treasury Bond

Debt obligation of the federal government with original maturity between 10 and 30 years.

Liquidate

To convert assets into cash or cash equivalents by selling them on the market.

Spot Price

The current market price at which a particular asset, such as a commodity, currency, or security, can be bought or sold for immediate delivery.

Silver Spot Price

The current market price at which silver can be bought or sold for immediate delivery.