Linda Keller opened a consulting firm,Keller Consulting P.C.During its first month of operations,the following transactions were completed: I.Linda invested $30,000 in the business,which in turn issued common stock to her.
V.The business received cash from a customer as payment on account $6,000.
At the end of the month,total liabilities are:
A)$9,000.
B)$64,000.
C)$73,000.
D)$77,000.

Question

Linda Keller opened a consulting firm,Keller Consulting P.C.During its first month of operations,the following transactions were completed: I.Linda invested $30,000 in the business,which in turn issued common stock to her.
 V.The business received cash from a customer as payment on account $6,000.
 At the end of the month,total liabilities are:
A)$9,000. 
B)$64,000. 
C)$73,000. 
D)$77,000.

Quizplus · Accepted Answer

Accounts Payable $64,000 + Note Payable $9,000 = $73,000

Linda Keller Opened a Consulting Firm,Keller Consulting P