The accountant for Scott Industries prepared the following list of account balances from the company's records for the year ended December 31: Fees Earned $165,000   Cash $30,000 Accounts Receivable 16,000   Selling Expenses 44,000 Equipment 64,000   Common Stock 47,000 Accounts Payable 12,000   Interest revenue 3,000 Salaries & Wages Expense 40,000   Income taxes expense 18,000 Income Taxes Payable 5,000   Rent expense 20,000 Determine the total liabilities at the end of the current year for Scott Industries. $fill in the blank 1

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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The accountant for Scott Industries prepared the following list of account balances from the company's records for the year ended December 31:

Fees Earned $165,000   Cash $30,000
Accounts Receivable 16,000   Selling Expenses 44,000
Equipment 64,000   Common Stock 47,000
Accounts Payable 12,000   Interest revenue 3,000
Salaries & Wages Expense 40,000   Income taxes expense 18,000
Income Taxes Payable 5,000   Rent expense 20,000

Determine the total liabilities at the end of the current year for Scott Industries.
$fill in the blank 1

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