A company's trial balance included the following account balances: $\begin{array}{lr}
\text { Accounts Payable } & 19,207 \
\text { Accounts Receivable } & 81,336 \
\text { Cash } & 73,324 \
\text { Income Tax Payable } & 3,512 \
\text { Inventory } & 25,816 \
\text { Note Payable, due in two years } & 1,709 \
\text { Equipment } & 54,128 \
\text { Stockholders'Equity } & 202,808 \
\text { Supplies } & 5,512 \
\text { Wages Payable } & 12,880
\end{array}$ What is the amount of Total Liabilities on the Balance Sheet?

Question

Quizplus · Accepted Answer

Total Liabilities are calculated by adding together Accounts Payable, Income Tax Payable, Notes Payable, and Wages Payable: $19,207 + 3,512 + 1,709 + 12,880 = 37,308$.

A Company's Trial Balance Included the Following Account Balances What Is the Amount of Total Liabilities on the Balance