Below Is a List of Various Balance Sheet Accounts and Their

question 137

Multiple Choice

Below is a list of various balance sheet accounts and their balances. Debit Credit
$\begin{array}{|l|r|r|}\hline \text { Notes payable-short term } & & \$ 800 \\\hline \text { Salary payable } & & 3,600 \\\hline \text { Notes payable-long term } & & 20,000 \\\hline \text { Accounts payable } & & 2,200 \\\hline \text { Unearned revenue } & & 1,000 \\\hline \text { Interest payable } & & 2,200\\\hline \end{array}$ What are the total long-term liabilities that would be shown on the balance sheet?

• A) $29,800
• B) $9,000
• C) $9,800
• D) $20,000

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Definitions:

Pc

Often synonymous with Personal Computer, a general-purpose electronic computing device designed for individual use.

Solution

A mixture in which all the components are evenly distributed at the molecular level, or a way to solve a problem.

Tid

An abbreviation for "ter in die," a medical term meaning three times a day, usually in the context of prescribing medication.

Bid

An offer made by an individual or entity to buy something.