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

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Definitions:

SWOT Analysis

A strategic planning tool used to identify and analyze the Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning.

Planning Phase

The initial stage in project management or business strategy formulation where objectives are set, and procedures to achieve them are outlined.

Market Goals

Objectives that a company or organization aims to achieve in its target market, such as increasing market share, revenue, or customer satisfaction.

Incremental Sales Revenue

Additional revenue generated from the sale of additional units of a product or service.