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Question 1: Presented below are items for Wilson Company at December 31, 2011. L Accounts payable 40,000 A Accounts receivable 36,000 A Cash 27,000 A

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Question 1: Presented below are items for Wilson Company at December 31, 2011. L Accounts payable 40,000 A Accounts receivable 36,000 A Cash 27,000 A Equipment 57,000 E Share capital 30,000 L Notes payable 50,000 Compute each of the following: 1. Total assets. 2. Total liabilities

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