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  1. business
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  3. on december 31, 20x1, ryan company had the followi

On December 31, 20X1, Ryan Company had the following account balances. Accounts receivable 15,000 Sales...

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Accounting

On December 31, 20X1, Ryan Company had the following account balances. Accounts receivable 15,000 Sales revenues 845,000 Gain on sale of equipment 14,000 Retained earnings (beginning of year, January 1, 20X1) 20,000 Accounts payable 25,000 Loan payable 45,000 Cost of goods sold 650,000 Cash 6,000 Inventory 11,000 Common stock 41,000 Operating expenses 210,000 Dividends 34,000 Unearned revenue 5,000 Property, plant, and equipment 45,000 Prepaid rent 50,000 Bonds payable 26,000. Given these data, what are Ryans TOTAL LIABILITIES as of December 31, 20X1? Hint #1: An item that appears in the income statement does NOT also appear in the balance sheet. Hint #2: Unearned revenue is an obligation to deliver a service that has not yet been delivered but for which the customer has already paid.

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