The Balances of Select Accounts of Janet Company as of December

question 15

Multiple Choice

The balances of select accounts of Janet Company as of December 31,2016 are given below:

The Unearned Revenue is the amount of cash received for services to be rendered in January,2017.The Interest Payable is due on February 15,2017.What are the total current liabilities shown on the balance sheet?

• A)$5,400
• B)$11,300
• C)$13,700
• D)$12,400

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Definitions:

Whiskey Rebellion

A tax protest in the United States in the 1790s, during the presidency of George Washington, triggered by a tax imposed on distilled spirits.

National Government

The organization responsible for the political direction and administration of a nation, encompassing its executive, legislative, and judicial branches.

Violent Resistance

The act of opposing or fighting against authority, policies, or governing bodies through forceful and aggressive measures.

Report on Manufactures

A seminal document written by Alexander Hamilton in 1791, advocating for the encouragement and protection of manufacturing industries within the United States as a key to economic development.