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How much is the total liabilities at the end of the period

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Problem 1: At the start of the period, a business has total assets of ?500,000 and total liabilities of ?300,000. During the period, the business earned total income of ?1,000,000 and total expenses of ?640,000. No additional investments or withdrawals were made by the owner. Total assets at the end of the period were ?830,000. How much is the total liabilities at the end of the period?

Option 1: 280,000

Option 2: 270,000

Option 3: 260,000

Option 4: 240,000

Reference no: EM132828108

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