What is the amount of the total liabilities to be reported on the balance sheet?
A)$60,000
B)$0
C)$90,000
D)$80,000

Question

Quizplus · Accepted Answer

The amount of total liabilities to be reported on the balance sheet is the sum of all debts and obligations owed by the company. Based on the given options, the total liabilities amount is $90,000, which is the sum of the accounts payable, notes payable, and accrued expenses. Option A and D are incorrect as they report only a part of the total liabilities. Option B is also incorrect as it suggests that there are no liabilities to be reported, which is not possible for a company.

What Is the Amount of the Total Liabilities to Be