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A Company Started the Year with the Following: Assets $100,000;

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A company started the year with the following: Assets $100,000; Liabilities $30,000; Common Stock $60,000; Retained Earnings $10,000.During the year, the company earned revenue of $5,000, all of which was received in cash, and incurred expenses of $3,000, all of which were unpaid as of the end of the year.In addition, the company paid dividends of $1,000 to owners.Assume no other activities occurred during the year.
-Use the information above to answer the following question.The amount of liabilities at the end of the year is

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Definitions:

Sternberg's Definition

A conceptual framework proposed by psychologist Robert Sternberg, categorizing intelligence into analytical, creative, and practical components.

Experimental

Pertaining to a method of investigation in the sciences and psychology involving controlled testing and observation to establish cause and effect relationships.

School Psychologist

A professional who supports students' learning, behavior, and mental health within educational settings.

Intellectual Abilities

Cognitive capabilities that include reasoning, problem solving, planning, abstract thinking, complex idea comprehension, learning efficiently, and learning from experience.

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