Question :
161. Beginning assets were $437,600, beginning liabilities were $262,560, common stock : 1256323
161. 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
