The following information was extracted from the accounting records of Plum Company: $$\begin{array} { l r }
\text { Beginning Paid-In Capital } & \$ 87,000 \
\text { Beginning Retained Earnings } & \$ 211,000 \
\text { Beginning Assets } & \$ 455,000
\end{array}$$ During the period assets increased by $150,000, revenues were $200,000, and expenses were $165,000.The owners made no additional investments. The amount of Plum Company's liabilities at the end of the period is _____.
A)$157,000
B)$272,000
C)$150,000
D)$ 45,000

Question

The following information was extracted from the accounting records of Plum Company: $$\begin{array} { l r } 
\text { Beginning Paid-In Capital } & \$ 87,000 \
\text { Beginning Retained Earnings } & \$ 211,000 \
\text { Beginning Assets } & \$ 455,000
\end{array}$$ During the period assets increased by $150,000, revenues were $200,000, and expenses were $165,000.The owners made no additional investments. The amount of Plum Company's liabilities at the end of the period is _____.
A)$157,000
B)$272,000
C)$150,000
D)$ 45,000

Quizplus · Accepted Answer

The Answer of The following information was extracted from the accounting records of Plum Company: $$\begin{array} { l r } 
\text { Beginning Paid-In Capital } & \$ 87,000 \
\text { Beginning Retained Earnings } & \$ 211,000 \
\text { Beginning Assets } & \$ 455,000
\end{array}$$ During the period assets increased by $150,000, revenues were $200,000, and expenses were $165,000.The owners made no additional investments. The amount of Plum Company's liabilities at the end of the period is _____.
A)$157,000
B)$272,000
C)$150,000
D)$ 45,000

The Following Information Was Extracted from the Accounting Records of Plum