Solved

Misra Company Compiled the Following Financial Information as of December

Question 149

Multiple Choice

Misra Company compiled the following financial information as of December 31, 2015:  Revenues $340,000 Retained earnings (1/1/15) 60,000 Equipment 80,000 Expenses 250,000 Cash 90,000 Dividends 20,000 Supplies 10,000 Accounts payable 40,000 Accounts receivable 70,000 Common stock 80,000\begin{array} { l r } \text { Revenues } & \$ 340,000 \\\text { Retained earnings } ( 1 / 1 / 15 ) & 60,000 \\\text { Equipment } & 80,000 \\\text { Expenses } & 250,000 \\\text { Cash } & 90,000 \\\text { Dividends } & 20,000 \\\text { Supplies } & 10,000 \\\text { Accounts payable } & 40,000 \\\text { Accounts receivable } & 70,000 \\\text { Common stock } & 80,000\end{array} Misra's assets on December 31, 2015 are


A) $180,000.
B) $250,000.
C) $360,000. d $490,000.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents