Watson Foods, Inc. reported the following transactions for September 2019.
a) The business received $21,000 cash and issued common stock. It was credited to Common Stock
b) The business purchased office equipment for $10,000 for which $4,000 cash was paid and the balance was put on a note payable.
c) Paid insurance expense of $1,500 cash.
d) Paid the September utility bill for $900 cash.
e) Paid $1,800 cash for September rent. The business had sales of $11,000 in September. Of these sales, 60% were cash sales, and the balance was credit sales.
f) The business paid $6,000 cash for office furniture.
What are the total liabilities at the end of September, 2019?
(a) $1,500
(b) $11,000
(c) $10,000
(d) $6,000
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Home » Business » Watson Foods, Inc. reported the following transactions for September 2019. a) The business received $21,000 cash and issued common stock.