The balance sheet of Allhear, a communications firm, for the year ended December 31, 20x1, showed current assets of $20 million, current liabilities of $16 million, shareholders' equity of $17 million, and noncurrent assets of $29 million. Compute the amount of noncurrent liabilities on Allhear's balance sheet at the end of 20x1.
A)$5 million
B)$10 million
C)$12 million
D)$13 million
E)$16 million

Question

Quizplus · Accepted Answer

The Answer of The balance sheet of Allhear, a communications firm, for the year ended December 31, 20x1, showed current assets of $20 million, current liabilities of $16 million, shareholders' equity of $17 million, and noncurrent assets of $29 million. Compute the amount of noncurrent liabilities on Allhear's balance sheet at the end of 20x1.
A)$5 million
B)$10 million
C)$12 million
D)$13 million
E)$16 million

The Balance Sheet of Allhear, a Communications Firm, for the Year