Hilltop Corporation had the following accounts and balances:Accounts payableAccountsreceivableBuildingsCash? Equipment35,000 Land215,000 Unearned servicerevenue15,000 Total stockholders'equityWhat would be the balance of Accounts Payable?$15,000$25,000$30,000$50,000$125,00015,00010,000365,000

Lets understand the basics.As per balance sheet equation, total assets are always equals to total…

Accounts payable Accounts receivable Buildings Cash ? Equipment 35,000 Land $15,000 $25,000 $30,000 $50,000 215,000 Unearned service revenue 15,000 Total stockholders' equity What would be the balance of Accounts Payable? $125,00 15,00 10,00 365,00

Accounts payable Accounts receivable Buildings Cash ? Equipment 35,000 Land $15,000 $25,000 $30,000 $50,000 215,000 Unearned service revenue 15,000 Total stockholders' equity What would be the balance of Accounts Payable? $125,00 15,00 10,00 365,00

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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Question

Hilltop Corporation had the following accounts and balances:
Accounts payable
Accounts
receivable
Buildings
Cash
? Equipment
35,000 Land
215,000 Unearned service
revenue
15,000 Total stockholders'
equity
What would be the balance of Accounts Payable?
$15,000
$25,000
$30,000
$50,000
$125,000
15,000
10,000
365,000

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