Question

IUX, X Aay.A. EZ 9... 1 Normal 1 No Spac... Heading 1 Heading 2 Title Subtitle Font 23. Paragraph Styles The following items are taken from the financial statements of the Postal Service for the year ending December 31, 2020: Accounts payable $. 18.000 Accounts receivable 11,000 Accumulated depreciation - equipment 28,000 Advertising expense 21,000 Cash 15,000 Common stock 42,000 Dividends 14,000 Depreciation expense 12,000 Equipment 210,000 Insurance expense 3,000 Note payable, due 6/30/21 70,000 Prepaid insurance (12-month policy) 6,000 Rent expense 17,000 Retained earnings (1/1/20) 60,000 Salaries and wages expense 32,000 Service revenue 133,000 Supplies 4,000 Supplies expense 6,000 What is total liabilities and stockholders' equity at December 31, 2020? a. $176,000 b. $218,000 c. $190,000 d. $232,000 e to search III ORI

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Answer 1

Answer: b.$218,000 Sl.no 1 2 Items Accounts Payable Accumulated depreciation - Equipment Common stock Note payable, due 6/30/21 Retained earnings Total Liabilities and Stockholders Equity Nature Liability Liability Equity Liability Equity 3 Amount $ 18,000 28,000 $ 42,000 $ 70,000 $ 60,000 $ 218,000 4 5 5