Reference no: EM132484438
Following are transactions of Gotebo Tanners, Inc., a new company, during the month of January:
1. Issued 10,000 shares of common stock for $15,000 cash.
2. Purchased land for $12,000, signing a note payable for the full amount.
3. Purchased office equipment for $1,200 cash.
4. Received cash of $14,000 for services provided to customers during the month.
5. Purchased $300 of office supplies on account.
6. Paid employees $10,000 for their first month's salaries.
Question 1: What was the total amount of Gotebo's liabilities following these six transactions?
A. $12,300.
B. $27,300.
C. $22,600.
D. $15,500
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