The Tom Smith Corporation has the following items
Cash, $5,000; Machinery, $50,000; Building,
$150,000; Note payable bank, $10,000; Savings, $10,000; Long-term debt, $50,000; Accounts
payable, $30,000; Taxes payable, $5,000; Accounts receivable, $30,000; Inventory, $10,000;
Depreciation Building, $35,000; Depreciation Machinery, $25,000; Land $50,000. Total liabilities
for this Corporation are
A) $45,000.
B) $55,000.
C) $95,000.
D) $155,000.
E) $190,000.
C
Business
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