The Following Table Contains Financial Information for Trumpter's Inc What Is the Amount of Trumpter's Total Liabilities?
A)$5,000
B)$78,500

question 131

Multiple Choice

The following table contains financial information for Trumpter's Inc.before closing entries:
$$\begin{array} { | l | r | } \hline \text { Cash } & \$ 12,000 \\\hline \text { Supplies } & 4,500 \\\hline \text { Prepaid Rent } & 2,000 \\\hline \text { Salaries Expense } & 4,500 \\\hline \text { Equipment } & 65,000 \\\hline \text { Service Revenue } & 30,000 \\\hline \text { Miscellaneous Expense } & 20,000 \\\hline \text { Dividends } & 3,000 \\\hline \text { Accounts Payable } & 5,000 \\\hline \text { Common Stock } & 68,000 \\\hline \text { Retained Earnings } & 8,000 \\\hline\end{array}$$
What is the amount of Trumpter's total liabilities?

• A)$5,000
• B)$78,500
• C)$68,500
• D)$83,500

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Definitions:

Social Security Number

A unique, nine-digit number assigned to U.S. citizens and eligible residents, used for tracking earnings and benefits within the social security system.

Paired Associates

A learning method where items are learned in linked pairs so that when one item of a pair is presented, the other can be recalled.

Retrieval Principle

The concept in which memory recall is enhanced if the context at the time of recall matches the context present during encoding or learning.

SPAR Method

An approach or technique in a specific field, but without further context, it's not possible to provide a specific definition.