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Below Is Accounting Information for Cascade Company for 2013 What Were the Total Assets at Year-End?
A) $320,000
B)

Question 168

Multiple Choice

Below is accounting information for Cascade Company for 2013:
 Revenue $416,000 Cash $120,0000 Cormmon stock $200,000 Expenses $300,000 Equipment $240,000 Accounts receivable $35,0000 Nates payable $50,000 Notes receivable $62,000\begin{array} { | l | r | } \hline \text { Revenue } & \$ 416,000 \\\hline \text { Cash } & \$ 120,0000 \\\hline \text { Cormmon stock } & \$ 200, 000 \\\hline \text { Expenses } & \$ 300, 000 \\\hline \text { Equipment } & \$ 240, 000 \\\hline \text { Accounts receivable } & \$ 35,0 000 \\\hline \text { Nates payable } & \$ 50,000 \\\hline \text { Notes receivable } & \$ 62,000 \\\hline\end{array}
What were the total assets at year-end?


A) $320,000
B) $296,000
C) $316,000
D) $457,000
E) $116,000

Correct Answer:

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