FINANCIAL REPORTING PROBLEM: Tootsie Roll Industries
Refer to the financial statements of Tootsie Roll Industries
Answer the following questions.
(b) How much were the accounts payable at December 31, 2004?
(c) What were the components of total current liabilities on December 31, 2004 (other
than accounts payable already discussed above)?
The solution explains some caclulations relating to current liabilities.