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3 years ago

Accounts Payable: $19,207

Business

1 answer:

lisabon 2012 [21]3 years ago

7 0

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

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