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

-What was total equity at year end?
A)$320,000
B)$296,000
C)$316,000
D)$457,000
E)$116,000

Question

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

-What was total equity at year end?
A)$320,000 
B)$296,000 
C)$316,000 
D)$457,000 
E)$116,000

Quizplus · Accepted Answer

We can find the total equity by adding up common stock, retained earnings, and additional paid-in capital.
Total equity = 100,000 + 196,000 + 20,000 = $316,000. Therefore, the correct answer is (C).

Below Is Accounting Information for Cascade Company for 2013,its First