The following is a partial list of account balances for Swell Enterprises at 12/31/2020: ...
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Accounting
The following is a partial list of account balances for Swell Enterprises at 12/31/2020:
Accounts payable 15,000
Accounts receivable 8,500
Accrued taxes payable 2,000
Cash 3,500
Deferred Revenue 1,200
Estimated Warranty Payable (1 year) 6,000
Note payable, due 11/5/2021 (no plans to refinance) 9,300
Noncallable Bond payable, due 11/5/2025 50,000
The amount of current liabilities that should be included in Swell's year-end balance sheet should be:
a) $76,300
b) $33,500
c) $32,300
d) $24,200
e) None of the above
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