Question
At the end of the first month of operations for SloMo Delivery Service, the business had the following accounts: Accounts Receivable, $11,350; Prepaid Insurance, $400;
At the end of the first month of operations for SloMo Delivery Service, the business had the following accounts:
Accounts Receivable, $11,350;
Prepaid Insurance, $400;
Equipment, $26,200
And Cash, $21,650
On the same date, SloMo owed the following creditors:
Simpson Supply Company, $17,000;
Allen Office Equipment, $14,500
The total amount of Liabilities is:
a) $31,500
b) $17,000
c) $14,500
d) $28,100
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Get StartedRecommended Textbook for
Accounting
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
23rd Edition
978-0324662962
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