Question
White Cleaning Services was established by Mr. Mansoor early in 2021. On 1/1/2022, business had total assets of $ 85,000, and total liabilities of
White Cleaning Services was established by Mr. Mansoor early in 2021. On 1/1/2022, business had total assets of $ 85,000, and total liabilities of $ 17,000. During the year 2022, total revenue was $ 61,000, while total expenses amounted to $ 35,000. Also, during the year, Mr. Mansoor made an additional Investment of $ 12,000 to his business. On 31/12/2022, total business assets amounted to $ 126,000. Calculate the total liabilities on 31/12/2022. Please note to insert only a number. NO signs or commas are to be used. Answer
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Financial and Managerial Accounting
Authors: Horngren, Harrison, Oliver
3rd Edition
978-0132497992, 132913771, 132497972, 132497999, 9780132913775, 978-0132497978
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