Answer:
Step-by-step explanation:
Given that,
Purchase cost= $9,800
Employee cash lend=$10,800
Duration 6months
Total employee cash=$10,800×6
Total employee cash=$64,800
A liability may be a part of past transaction done by the firm, e.g. purchase of a fixed asset or current asset.
Therefore, The total liabilities is the cash lend to the employee and the purchase
Then, Liabilities = 64,800+9800
Total liabilities = $ 74,600
