Palmer Hand Clinic Has the Following Accounts and Balances

question 21

Multiple Choice

Palmer Hand Clinic has the following accounts and balances:
Cash, $2,350
Accounts Receivable, $280
Professional Equipment, $1,200
Office Equipment, $6,700
Accounts Payable, $4,380
P.Palmer, Capital, $2,000
Income from Services, $6,000
Rent Expense, $1,850
What is the amount of liabilities?

• A) $6,230
• B) $1,850
• C) $4,380
• D) $6,150

---

Definitions:

Karl Marx

A 19th-century philosopher, economist, and political theorist known for his critical analysis of capitalism and his theories about communism.

Demographic Transition

The process of change in a society's population from high birth and death rates to low birth and death rates, often associated with economic development.

Deaths

The termination of all biological functions that sustain a living organism.