Reference no: EM132624272
Question - Pirates Company provided the following information on December 31, 2019:
Note payable: Trade 3,000,000
Bank loan 2,000,000
Advances from officers 500,000
Accounts payable - trade 4,000,000
Bank overdraft 300,000
Dividends payable 1,000,000
Withholding tax payable 100,000
Mortgage payable 3,800,000
Income tax payable 800,000
Estimated warranty liability 600,000
Estimated damages payable by reason of breach of contract 700,000
Accrued liabilities 900,000
Estimated premium liability 200,000
Claim for increase in wages by employees covered in a pending lawsuit 3,500,000
Contract entered into for the contraction of building 5,000,000
Required - What is the total current liabilities on December 31, 2019?
A. 14,100,000
B. 18,100,000
C. 13,800,000
D. 13,100,000
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