Question

Accounts Payable: $19,207

Answer 1

Answer:

total liabilities = $169,008

Explanation:

total liabilities:

• Accounts Payable: $19,207
• Discount on Bonds Payable: ($7,000) ⇒ contra liability account
• Sales Tax Payable: 3,512
• FICA Tax Payable: 3,200
• Bonds Payable: 100,000
• Note Payable, due in two years 1,709
• Unearned Service Revenue 30,500 ⇒ must be reported as a liability
• Salaries and Wages Payable 17,880

to determine the total liabilities we just have to add both current and long term liabilities, and subtract any contra liability accounts = $176,008 - $7,000 = $169,008