Mill co.'s trial balance included the following account balances at december 31, year 6:
accounts payable: $15,000
bonds payable, due year 7: $25,000
discount on bonds payable, due year 7: $3,000
dividends payable 1/31/year 7: $8,000
notes payable, due year 8: $20,000
what amounts should be included in the current liability section of mill's december 31, year 6, balance sheet?
a) $71,000
b) $51,000
c) $65,000
d) $45,000

D) $45,000

Explanation:

The computation of the amount which is included in the current liability section is shown below:

= Account payable balance + bonds payable -  discount on bonds payable + dividend payable

= $15,000 + $25,000 -  $3,000 + $8,000

= $45,000

The current liability is that liability which is arise for one year. Since, the notes payable is a long term liabilities so we do not consider in the computation part.

answer; i believe that the correct answer is ( owners investment)