The following items are taken from the financial statements of the Postal Service for the year ending December 31, 2015: What is total liabilities and stockholders' equity at December 31, 2015?
A)$176,000
B)$218,000
C)$190,000
D)$232,000

Question

The following items are taken from the financial statements of the Postal Service for the year ending December 31, 2015:  What is total liabilities and stockholders' equity at December 31, 2015?
A)$176,000 
B)$218,000 
C)$190,000 
D)$232,000

Quizplus · Accepted Answer

To find the total liabilities and stockholders' equity, we add the two amounts together. From the financial statement, we can see that the total liabilities are $131,000 and the total stockholders' equity is $87,000. Therefore, total liabilities and stockholders' equity at December 31, 2015 is $131,000 + $87,000 = $218,000. The correct answer is B.

The Following Items Are Taken from the Financial Statements of the Postal