Following Are Transactions of Gotebo Tanners,Inc

question 100

Multiple Choice

Following are transactions of Gotebo Tanners,Inc. ,a new company,during the month of January: 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.What was the total amount of Gotebo's liabilities following these six transactions?

• A)$12,300.
• B)$27,300.
• C)$22,600.

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Definitions:

Economic Growth

An increase in the value of goods and services produced by an economy over time, typically measured as the percentage increase in real gross domestic product (GDP).

Capital Goods

Assets used by businesses to produce goods and services, such as machinery, buildings, and equipment, not intended for immediate sale but for productive use over time.

Population Growth

The increase in the number of individuals in a population, often measured by the rate at which the number of individuals increases in a specific time period, usually expressed as a percentage.

Productivity

The measure of the efficiency of production, often calculated as the ratio of outputs produced to inputs used in the production process.