Following Are Transactions of Gotebo Tanners,Inc

question 44

Multiple Choice

Following are transactions of Gotebo Tanners,Inc.,a new company,during the month of January 2012:
1.Issued 10,000 shares of common stock for $15,000 cash.
2) Purchased land for $12,000,signing a note payable for the full amount.
3) Purchased office equipment for $1,200 cash.
4) Received cash of $14,000 for services provided to customers during the month.
5) Purchased $300 of office supplies on account.
6) Paid employees $10,000 for their first month's salaries.
How many of these transactions increased Gotebo's liabilities?

• A)Four.
• B)Three.
• C)Two.
• D)One.

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