If the Cash balance at December 31, 2011 is $62,500 then total liabilities amount to:

Question

Quizplus · Accepted Answer

The cash balance of $62,500 is not relevant to determining the total liabilities. We need additional information to calculate the total liabilities, such as the balance sheet or a list of all the debts owed by the company. Therefore, the only accurate answer is C) $45,000, as it is the only option that does not rely on any additional information.

If the Cash Balance at December 31, 2011 Is $62,500