Homework Answers
Answer:
Correct answer is:
c. $6,862
Explanation:
Out of given balance sheet assets and liabilities, cash, marketable securities, account receivable, inventories and other current assets are all current assets.
Current liabilities are:
Accounts payable = $5,173
Notes payable = $288
Other current liabilities = $1,401
Hence total current liabilities = $5173 + 288 + 1401 = $6,862
Hence option c is correct.
Option a is incorrect since $8,752 is total of current assets.
As calculated value of current liabilities = $6,862, other options b, d and e are incorrect.
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