Wetzel Company has the following accounts and balances at the end of the fiscal year: What is the total amount of liabilities at the end of the year?
A)$55,500
B)$110,500
C)$205,500
D)$176,000

Question

Wetzel Company has the following accounts and balances at the end of the fiscal year:  What is the total amount of liabilities at the end of the year?
A)$55,500 
B)$110,500 
C)$205,500 
D)$176,000

Quizplus · Accepted Answer

Accounts Payable $41,000 + Interest Payable $4,500 + Income Taxes Payable $10,000 + Long-term Note Payable $150,000 = $205,500

Wetzel Company Has the Following Accounts and Balances at the End