Garon Company disclosed the following liability account balances on December 31, 2016: Accounts payable 1,900,000.00 3,400,000.00 Bonds payable Premium on bonds payable 200,000.00 Deferred tax payable 400,000.00 Dividends payable 500,000.00 Income tax payable 800,000.00 Notes payable, due January 31, 2017 700,000.00 The deferred tax liability is based on temporary differences that will reverse in 2016. On December 31, 2016, what total amount should be reported as current liability? 7,100,000 3,900,000 4,300,000 4,100,000

Garon Company disclosed the following liability account balances on December 31, 2016: Accounts payable 1,900,000.00 3,400,000.00 Bonds payable Premium on bonds payable 200,000.00 Deferred tax payable 400,000.00 Dividends payable 500,000.00 Income tax payable 800,000.00 Notes payable, due January 31, 2017 700,000.00 The deferred tax liability is based on temporary differences that will reverse in 2016. On December 31, 2016, what total amount should be reported as current liability? 7,100,000 3,900,000 4,300,000 4,100,000

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter17: Corporations: Introduction And Operating Rules

Section: Chapter Questions

Problem 47P

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