Presented below are selected accounts for San Marcos Corporation for December 31 of the current year. Debit Credit Accounts Receivablelong dashtrade $ 730 Building and Equipment 1 comma 030 Cash in Banklong dashoperating 59 Interest Receivable 45 Installment Receivables 70 Merchandise Inventory 35 Land 310 Notes Receivablelong dashlong term 535 Petty Cash 18 Prepaid Expenseslong dashcurrent 42 Supplies 29 Patent 70 Accounts Payablelong dashtrade 635 Accumulated Depreciation 235 Additional Paidminusin Capital 610 Allowance for Uncollectible Accounts 65 Cash Dividends Payable 70 Common Stocklong dash$1 par value 55 Income Tax Payable 95 Notes Payablelong dash2 years 910 Retained Earnings 75 Unearned Revenueslong dash2 years 95 Cash Dividends Declared 250 Service Revenue 378 Operating Expenses 200 TOTALS $3 comma 223 $3 comma 223 What are total liabilities for San Marcos Corporation?
Solved
Show answers
More tips
- H Health and Medicine How to Calculate Your Ideal Weight?...
- S Style and Beauty Discover the Art of Nail Design: How Do You Paint Your Nails?...
- P Philosophy How to Develop Extrasensory Abilities?...
- O Other Everything You Need to Know About Kudyabliks...
- C Computers and Internet The Twitter Phenomenon: What it is and How to Use it...
- C Computers and Internet How to Choose a Laptop: Expert Guide and Tips...
- C Computers and Internet How to Choose a Monitor?...
- H Horoscopes, Magic, Divination Where Did Tarot Cards Come From?...
- S Style and Beauty How to Make Your Lips Fuller? Ideas and Tips for Beautiful Lips...
- C Computers and Internet How to Learn to Type Fast?...
Answers on questions: Business
- B Business Write a one-page report on the national and local unemployment rates for the last ten years....
- M Mathematics Find the number of each kind of atom2MgO...
- M Mathematics Whitney works at an aquarium. She uses hoses of different sizes to fill the fish tanks. Hose A takes 16 min to fill a 160-gal tank. Hose B takes 30 min to fill a 240-gal tank. Which...
- M Mathematics Who am I if you multiply me by -3 and add 12 the result is -48...
Ответ:
The total liabilities for San Marcos Corporation are $1,805.
Explanation:
Total liabilities are the sum of current and long-term liabilities. Current liabilities are those that typically last for a year or less. For San Marcos Corporation, the current liabilities are accounts payable, cash dividends payable, and income tax payable.
Long-term liabilities are typically due more than one year in the future. For San Marcos Corporation, the long-term liabilities are notes payable and unearned revenues.
Calculation of total liabilities for San Marcos Corporation:
Accounts payable - trade $635
Cash dividends payable $70
Income tax payable $95
Notes payable - 2 years $910
Unearned revenues - 2 years $95
Total liabilities $1,805
Note that the allowance for uncollectible debts, while of a similar nature, is typically treated as a contra-asset. That is, its total amount is deducted from accounts receivable - trade to arrive at a net accounts receivables figure.
Ответ:
please no i dont wanna get poop