Merchant Company Provides Plumbing Services

question 43

Multiple Choice

Merchant Company provides plumbing services.Transactions of Merchant during the first year of operations are given below.
A.The owner,Carol Merchant,contributed $10,000 cash to form the business.
B.Paid $1,200 cash for equipment to be used for plumbing repairs.
C.Borrowed $11,000 from a local bank and deposited the money in the checking account.
D.Paid $400 rent for the year.
E.Purchased $400 of office supplies by cash.
F.Completed a plumbing repair project for a local lawyer and received $3,300 cash.
Calculate the amount of total liabilities at the end of the first year.

• A)$11,000
• B)$10,000
• C)$19,800
• D)$3,300

---

Definitions:

Renal Artery

A blood vessel that carries oxygenated blood to the kidneys.

Bacteriologic Culture

The laboratory process of growing bacteria from a sample to identify a possible infection.

Surgical Excision

The process of removing tissue or part of an organ using surgical techniques.

Triangular Area

A geometric region defined by three points that form the shape of a triangle, often used in mathematical calculations and geometry.