Lithuanian Motors Has the Following Balance Sheet Accounts If the Company Has Total Assets of $288,000,what Is the l

question 105

Multiple Choice

Lithuanian Motors has the following balance sheet accounts:
$$\begin{array} { l c } \text { Land } & \$ 170,000 \\\text { Equipment } & 66,000 \\\text { Salaries Payable } & ? \\\text { Notes Payable } & 88,000 \\\text { Supplies } & 14,000 \\\text { Cash } & 26,000 \\\text { Common Stock } & 100,000 \\\text { Retained Earnings } & 40,000 \\\text { Accounts Payable } & ? \\\text { Prepaid Rent } & 12,000\end{array}$$
If the company has total assets of $288,000,what is the balance of the company's Salaries Payable account?

• A)$15,000.
• B)$25,000.
• C)$12,000.
• D)Cannot be determined given the information provideD.