Intermediate Accounting (16th Edition)

Published by Wiley
ISBN 10: 1118743202
ISBN 13: 978-1-11874-320-1

Chapter 5 - Balance Sheet and Statement of Cash Flows - Review and Practice - Brief Exercises - Page 239: BE5-7


Current liabilities: Notes payable $22,500 Add: Accounts payable $72,000 Add: Salaries and wages payable $4,000 Add: Income taxes payable $7,000 Total Current liabilities $105,000

Work Step by Step

Total current liabilities for Thomas Corporation: = $105,000
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