using the balance sheet, calculate xyz companys liabilities. xyz company - balance sheet assets liabilities…

using the balance sheet, calculate xyz companys liabilities. xyz company - balance sheet assets liabilities cash $45,000 notes $55,000 inventory $41,000 wages $56,000 property $134,000 owners equity stock $50,000 investment $59,000 liabilities = $?

using the balance sheet, calculate xyz companys liabilities. xyz company - balance sheet assets liabilities cash $45,000 notes $55,000 inventory $41,000 wages $56,000 property $134,000 owners equity stock $50,000 investment $59,000 liabilities = $?

Answer

Explanation:

Step1: Identify liability items

We have Notes ($55,000) and Wages ($56,000) as liability - related items.

Step2: Calculate total liabilities

Add the amounts of Notes and Wages: $55000 + 56000$. $55000+56000 = 111000$

Answer:

$111,000$