The following financial information is from Bronco Company. All debt is due within one year unless stated otherwise. Retained Earnings $ 64,200 Supplies 39,000 Equipment 73,000 Accounts Receivable 9,400 Deferred Revenue 4,300 Accounts Payable 13,700 Common Stock 24,000 Notes Payable (due in 18 months) 33,000 Interest Payable 5,600 Cash 23,400 What is the amount of current liabilities

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03-09-2021
Business

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The following financial information is from Bronco Company. All debt is due within one year unless stated otherwise. Retained Earnings $ 64,200 Supplies 39,000 Equipment 73,000 Accounts Receivable 9,400 Deferred Revenue 4,300 Accounts Payable 13,700 Common Stock 24,000 Notes Payable (due in 18 months) 33,000 Interest Payable 5,600 Cash 23,400 What is the amount of current liabilities

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Tundexiidn Tundexiidn · Answer 1 · 2021-09-08T07:06:31-04:00

The amount of current liabilities is $23,600

Current liabilities refers to liabilities of a company that have to be settled in cash within the fiscal year.

The current liabilities here are Deferred revenue, Accounts payable and Interest payable. Note that notes payable are due in more than 12 months, so, these are not a current liability.

Amount of Current Liabilities = Deferred revenue + Accounts payable + Interest payable

Amount of Current Liabilities = $4,300 + $13,700 + $5,600

Amount of Current Liabilities = $23,600

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