The following is selected financial data from Block Industries: Cash $20,000 Accounts receivable 13,400 Equipment 10,650 Prepaid expenses 5,000 Accounts payable 12,300 Unearned revenue 7,500 Long-term notes payable 10,000 Common stock 18,000 Revenue 11,700 Sales tax payable 6,000 Interest expense 4,500 Depreciation expense 1,000 How much does Block Industries have in current liabilities? A.$12,300 B.$25,800 C.$18,300 D.$19,800
The following is selected financial data from Block Industries: Cash $20,000 Accounts receivable 13,400 Equipment 10,650 Prepaid expenses 5,000 Accounts payable 12,300 Unearned revenue 7,500 Long-term notes payable 10,000 Common stock 18,000 Revenue 11,700 Sales tax payable 6,000 Interest expense 4,500 Depreciation expense 1,000 How much does Block Industries have in current liabilities? A.$12,300 B.$25,800 C.$18,300 D.$19,800
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following is selected financial data from Block Industries:
| Cash | $20,000 |
| 13,400 | |
| Equipment | 10,650 |
| Prepaid expenses | 5,000 |
| Accounts payable | 12,300 |
| Unearned revenue | 7,500 |
| Long-term notes payable | 10,000 |
| Common stock | 18,000 |
| Revenue | 11,700 |
| Sales tax payable | 6,000 |
| Interest expense | 4,500 |
| Depreciation expense | 1,000 |
How much does Block Industries have in current liabilities?
A.$12,300
B.$25,800
C.$18,300
D.$19,800
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