The following information is provided for Sacks Company. Cash $ 13,500 Supplies 6,000 Prepaid rent 3,500 Salaries expense 6,000 Equipment 66,500 Service revenue 36,000 Miscellaneous expenses 21,500 Dividends 4,500 Accounts payable 6,500 Common stock 69,500 Retained earnings 9,500 What is the amount of total liabilities? Multiple Choice $89,500 $6,500 $70,000 $81,500

The following information is provided for Sacks Company. Cash $ 13,500 Supplies 6,000 Prepaid rent 3,500 Salaries expense 6,000 Equipment 66,500 Service revenue 36,000 Miscellaneous expenses 21,500 Dividends 4,500 Accounts payable 6,500 Common stock 69,500 Retained earnings 9,500 What is the amount of total liabilities? Multiple Choice $89,500 $6,500 $70,000 $81,500

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 13GI

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Cash	$ 13,500
Supplies	6,000
Prepaid rent	3,500
Salaries expense	6,000
Equipment	66,500
Service revenue	36,000
Miscellaneous expenses	21,500
Dividends	4,500
Accounts payable	6,500
Common stock	69,500
Retained earnings	9,500

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