The Following Table Contains Financial Information for Trumpeter's Inc A)$5,000
B)$78,500

question 107

Multiple Choice

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

• A)$5,000.
• B)$78,500.
• C)$68,500.

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