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Beginning assets were $437600 beginning liabilities were $262560 common stock issued during the year totaled $45,000

Beginning assets were $437,600, beginning liabilities were $262,560, common stock issued during the year totaled $45,000, revenue for the year was $414,250, expenses for the year were $280,000, dividends declared was $22,700, and ending liabilities is $$350,000.

What is the ending equity for the year?

A. $700,160

B. $331,590

C. $134,250

D. $612,560

E. $175,040

 

162. Beginning assets were $437,600, beginning liabilities were $262,560, common stock issued during the year totaled $45,000, revenue for the year was $414,250, expenses for the year were $280,000, dividends declared was $22,700, and ending liabilities is $$350,000.

What is net income for the year?

A. $700,160

B. $331,590

C. $134,250

D. $612,560

E. $175,040

 

 

163. Beginning assets were $437,600, beginning liabilities were $262,560, common stock issued during the year totaled $45,000, revenue for the year was $414,250, expenses for the year were $280,000, dividends declared was $22,700, and ending liabilities is $$350,000.

 

What are the ending assets for the year?

 

A. $   700,160

B. $   612,560

C. $   787,600

D. $   681,590

E. $1,159,410

 

164. Beginning assets were $700,000, beginning equity was $225,000, revenue for the year was $523,000, common stock issued during the year totaled $320,000, expenses for the year were $392,000, ending equity is $751,000, and ending assets are $963,000.

What were the total dividends declared?

A. $75,000

B. $998,000

C. $131,000

D. $203,000

E. $308,000

 

 

165. Beginning assets were $700,000, beginning equity was $225,000, revenue for the year was $523,000, common stock issued during the year totaled $320,000, expenses for the year were $392,000, ending equity is $751,000, and ending assets are $963,000.

 

What were the beginning liabilities for the year?

 

A. $738,000

B. $998,000

C. $131,000

D. $203,000

E. $475,000

 

 

166. Beginning assets were $700,000, beginning equity was $225,000, revenue for the year was $523,000, common stock issued during the year totaled $320,000, expenses for the year were $392,000, ending equity is $751,000, and ending assets are $963,000.

What are the ending liabilities for the year?

A. $738,000

B. $998,000

C. $212,000

D. $203,000

E. $475,000

 

167. Ending liabilities are 67,000, beginning equity was $87,000, common stock issued during year totaled $31,000, expenses for the year were $22,000, dividends declared totaled $13,000, ending equity for the year is $181,000, and beginning assets for the year were $222,000.

What are the ending assets for the year?

A. $154,000

B. $134,000

C. $212,000

D. $248,000

E. $155,000

 

 

168. Ending liabilities are 67,000, beginning equity was $87,000, common stock issued during year totaled $31,000, expenses for the year were $22,000, dividends declared totaled $13,000, ending equity for the year is $181,000, and beginning assets for the year were $222,000.

 

What was beginning liabilities for the year?

 

A. $154,000

B. $155,000

C. $212,000

D. $248,000

E. $135,000

 

169. Ending liabilities are 67,000, beginning equity was $87,000, common stock issued during year totaled $31,000, expenses for the year were $22,000, dividends declared totaled $13,000, ending equity for the year is $181,000, and beginning assets for the year were $222,000.

What was revenue for the year?

A. $154,000

B. $155,000

C. $  53,000

D. $  98,000

E. $135,000

 

170. Ending liabilities are 67,000, beginning equity was $87,000, common stock issued during year totaled $31,000, expenses for the year were $22,000, dividends declared totaled $13,000, ending equity for the year is $181,000, and beginning assets for the year were $222,000.

What was net income for the year?

A. $ 41,000

B. $ 76,000

C. $ 53,000

D. $ 98,000

E. $ 35,000

 

 

 

171. Below is accounting information for Cascade Company for 2013:

Revenue

$416,000

Cash

$120,000

Common stock

$200,000

Expenses

$300,000

Equipment

$240,000

Accounts receivable

$35,000

Notes payable

$50,000

Notes receivable

$62,000

 

 

 

 

What was net income for the year?

A. $320,000

B. $296,000

C. $100,000

D. $457,000

E. $116,000

 

172. Below is accounting information for Cascade Company for 2013, its first year of

        business

Revenue

$416,000

Cash

$120,000

Common stock

$200,000

Expenses

$300,000

Equipment

$240,000

Accounts receivable

$35,000

Notes payable

$50,000

Notes receivable

$62,000

 

 

 

 

What was total equity at year end?

A. $320,000

B. $296,000

C. $316,000

D. $457,000

E. $116,000

 

173. Below is accounting information for Cascade Company for 2013:

Revenue

$416,000

Cash

$120,000

Common stock

$200,000

Expenses

$300,000

Equipment

$240,000

Accounts receivable

$35,000

Notes payable

$50,000

Notes receivable

$62,000

 

 

 

 

 

 

 

 

 

 

 

What were the total assets at year-end?

 

A.$320,000

B.$296,000

C.$316,000

D.$457,000

E.$116,000

 

Jan 28 2020 View more View Less

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