Math  /  Measurement

Question Calculate the total liabilities of White Cleaning Services on 31/12/202231/12/2022 given that total assets on 31/12/202231/12/2022 were $126,000\$ 126,000, total assets on 1/1/20221/1/2022 were $85,000\$ 85,000, total liabilities on 1/1/20221/1/2022 were $17,000\$ 17,000, total revenue in 2022 was $61,000\$ 61,000, total expenses in 2022 were $35,000\$ 35,000, and Mr. Mansoor made an additional investment of $12,000\$ 12,000 to the business in 2022.
Response: 29000

Studdy Solution
Calculate the total liabilities at the end of the year.
TotalLiabilitiesend=$126,000$106,000=$20,000Total\, Liabilities_{end} = \$126,000 - \$106,000 = \$20,000
The total liabilities on 31/12/2022 are 20000.

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