Watson Foods,Inc.reported the Following Transactions for September 2019

question 121

Multiple Choice

Watson Foods,Inc.reported the following transactions for September 2019.
A.The business received $22,000 cash and issued common stock.It was credited to Common Stock.
B.The business purchased office equipment for $9,000 for which $3,500 cash was paid and the balance was put on a note payable.
C.Paid insurance expense of $1,800 cash.
D.Paid the September utility bill for $900 cash.
E.Paid $2,000 cash for September rent.
F.The business had sales of $10,000 in September.Of these sales,60% were cash sales,and the balance was credit sales.
G.The business paid $7,000 cash for office furniture.
What are the total liabilities at the end of September,2019?

• A)$10,000
• B)$1,800
• C)$5,500
• D)$9,000

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Definitions:

Probability Range

This term describes the spread within which a particular event is expected to occur, expressed in terms of probability.

Loss Chance

The probability or likelihood that an investment will yield a return lower than the original investment.

Capital Gains

The profit from the sale of an asset or investment, where the sale price exceeds the purchase price.

Price Appreciation

An increase in the market value of an asset over time, often influenced by factors such as demand, inflation, and market conditions.