Financial Reporting and Analysis Q111
111The following information is available for Melissa March Ltd.
| Trades receivable | $20,000 |
| Trades payable | $25,000 |
| Notes payable due in 2 years | $12,000 |
| Accrued expenses | $1,000 |
| Prepaid expenses | $1,500 |
| Deferred revenue | $1,000 |
What is the total value of the company’s current liabilities?
- Option : A
- Explanation : Current liabilities will comprise of accounts payable, accrued expenses, and deferred revenue. Therefore 25, 000 + $1, 000 + $1, 000 =27,000.
