What is the amount of total liabilities at the end of 2014?

Name: What is the amount of total liabilities at the end of 2014?
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Question

Quizplus · Accepted Answer

To find total liabilities, we need to add accounts payable ($2,900), wages payable ($500), taxes payable ($1,000), notes payable ($5,000), and long-term debt ($1,675). $2,900 + $500 + $1,000 + $5,000 + $1,675 = $10,075. Therefore, the amount of total liabilities at the end of 2014 was $10,075, choice B.

What Is the Amount of Total Liabilities at the End