2A company's trial balance included the following account balances: Accounts Payable$ 19,347Accounts Receivable81,476Cash73,464Income Tax Payable3,652Inventory25,956Notes Payable, due in two years1,849Equipment55,528Stockholders’ Equity204,208Supplies5,652Wages Payable13,020 What is the amount of Total Liabilities on the Balance Sheet? Multiple Choice $119,344 $37,868 $242,076 $63,824

Total liabilities = Accounts payable + Income tax payable + Notes payable + Wages payable

Answered: A company's trial balance included the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A company's trial balance included the following account balances:

Accounts Payable	$ 19,347
Accounts Receivable	81,476
Cash	73,464
Income Tax Payable	3,652
Inventory	25,956
Notes Payable, due in two years	1,849
Equipment	55,528
Stockholders’ Equity	204,208
Supplies	5,652
Wages Payable	13,020

What is the amount of Total Liabilities on the Balance Sheet?

Multiple Choice

$119,344
$37,868
$242,076
$63,824

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