Question: Step by step solution with clear hand writing estion 17 ot yet nswered Marked out of 1.00 Flag question Nepton started the business on September

 Step by step solution with clear hand writing estion 17 ot

Step by step solution with clear hand writing

estion 17 ot yet nswered Marked out of 1.00 Flag question Nepton started the business on September Ist. 2015 with a capital contribution of $25,000 cash. It was credited to Nepton, Capital. - The business purchased office equipment for $11,500 for which $2,500 cash was paid and the balance was put on a note payable. - Paid insurance expense of $1,800 cash. - Received a utility bill for $2,500 to be paid in October. - Paid $2,000 cash for September rent. The business had sales of $12,000 in September. Of these sales, 60% were cash sales, and the balance was credit sales. - The business paid $8,000 cash for office furniture. What are the total liabilities at the end of September 2015? Select one: O $8,000 O $1,800 O $9,000 O $11,500 O $4,800

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!