Question
Sam Axe just started a business in tourism. Below see financials for the month
end. Ending Balances - January 31, 2022 Accounts Payable $700 Automobile
$34,400 Bank Loan $18,400 Capital Invested in January $19,900 Cash $10,400
Interest Expense $800 Axe, Capital, January 1, 2022 $0 Axe, Withdrawals
$1,200 Maintenance Expense $700 Miscellaneous Expense $800 Prepaid
Insurance $1,900 Salaries Expense $800 Service Revenue $8,500 Unearned
Revenue $4,000 Utilities Expense $500 What is the balance of total liabilities at
January 31, 2022? Question 2Select one: a. $46,700 b. $23,100 c. $17,500 d.
$19,300
Answer & Explanation
To determine the balance of total liabilities at January 31, 2022, we need to sum
up all the liability accounts listed in the financials. The liabilities provided are:
1. Accounts Payable: $700
Sam Axe just started a business in tourism. Below see financials for the month
end. Ending Balances - January 31, 2022 Accounts Payable $700 Automobile
$34,400 Bank Loan $18,400 Capital Invested in January $19,900 Cash $10,400
Interest Expense $800 Axe, Capital, January 1, 2022 $0 Axe, Withdrawals
$1,200 Maintenance Expense $700 Miscellaneous Expense $800 Prepaid
Insurance $1,900 Salaries Expense $800 Service Revenue $8,500 Unearned
Revenue $4,000 Utilities Expense $500 What is the balance of total liabilities at
January 31, 2022? Question 2Select one: a. $46,700 b. $23,100 c. $17,500 d.
$19,300
Answer & Explanation
To determine the balance of total liabilities at January 31, 2022, we need to sum
up all the liability accounts listed in the financials. The liabilities provided are:
1. Accounts Payable: $700
