ents costing $9,800 were purchased using cash.$10,800 was lent to an employee; the employee signed a six-month note in exchange for the loan. How much are Warren's total liabilities at the end of April

Question

Rory Gonzales

Mathematics

2 April, 15:39

ents costing $9,800 were purchased using cash.$10,800 was lent to an employee; the employee signed a six-month note in exchange for the loan. How much are Warren's total liabilities at the end of April

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Answers (1)

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Randy Lester · Answer 1

Step-by-step explanation:

Given that,

Purchase cost = $9,800

Employee cash lend=$10,800

Duration 6months

Total employee cash=$10,800*6

Total employee cash=$64,800

A liability may be a part of past transaction done by the firm, e. g. purchase of a fixed asset or current asset.

Therefore, The total liabilities is the cash lend to the employee and the purchase

Then, Liabilities = 64,800+9800

Total liabilities = $ 74,600