Mazaya Company began operations on December 1,2011. Presented below İS selected information telated to Mazaya Company at December 31, 20O11.Office Equipment R.O. 48,000, Utilities Expense7,200; Cash16,800, Accounts Receivable 32,400, Service Revenue 129,600, Wages Expense 56,400; Rent Expense 15,600; Notes Payable 12,000, Accounts Payable 19,200; Dividends 18,000, Share Capital 33.600. Liabilities total at December 31, 2011,is Select one a RO 49,200 b. R.O 44,400 CRO. 19,20O

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
icon
Concept explainers
Question
Mazaya Company began operations on December 1,2011. Presented below İS selected information telated to Mazaya
Company at December 31, 20O11.Office Equipment R.O. 48,000, Utilities Expense7,200; Cash16,800, Accounts Receivable
32,400, Service Revenue 129,600, Wages Expense 56,400; Rent Expense 15,600; Notes Payable 12,000, Accounts Payable
19,200; Dividends 18,000, Share Capital 33.600. Liabilities total at December 31, 2011,is
Select one
a RO 49,200
b. R.O 44,400
CRO. 19,20O
Transcribed Image Text:Mazaya Company began operations on December 1,2011. Presented below İS selected information telated to Mazaya Company at December 31, 20O11.Office Equipment R.O. 48,000, Utilities Expense7,200; Cash16,800, Accounts Receivable 32,400, Service Revenue 129,600, Wages Expense 56,400; Rent Expense 15,600; Notes Payable 12,000, Accounts Payable 19,200; Dividends 18,000, Share Capital 33.600. Liabilities total at December 31, 2011,is Select one a RO 49,200 b. R.O 44,400 CRO. 19,20O
Expert Solution
Step 1

Total of liabilities = Notes payable + Accounts payable

                            = RO 12,000 + RO 19,200

                            = RO 31,200

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Completing the Accounting Cycle
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education