1 answer

If liabilities are $53,000 and assets are $173,500, then equity equals: Multiple Choice $120,500 $173,500 $226,500...

Question:
If liabilities are $53,000 and assets are $173,500, then equity equals: Multiple Choice $120,500 $173,500 $226,500 $53,000
If the liabilities of a business increased $83,000 during a period of time and the equity in the business decreased $34,000 d
Beta Corporation purchased $160,000 worth of land by paying 16,000 cash and signing a $144,000 mortgage. Immediately prior to
Multiple Choice $316,000 $332,000 $49,000 $172,000 $300,000
FastForward has net income of $19,150 and assets at the beginning of the year of $213,000. Its assets at the end of the year
Multiple Choice 7.9% 14.2% 8.9% 12.7% 7.0%
Determine the net income of a company for which the following information is available: Employee salaries expense Interest ex
$831,000 $298,000 $261,000 $570,000 $309,000
FastForward had cash inflows from operations of $64,100; cash outflows from investing activities of $48,600; and cash inflows
Multiple Choice $139,300 increase $11,100 increase $42.100 decrease $42,100 increase $139,300 decrease
FastForward has beginning equity of $258,000, net income of $51100, dividends of $40,500, and investments by owners in exchan
Multiple Choice $268,600 $241,300 $274,700 $223,600 $211,400
A companys balance sheet shows: cash $23,600, accounts receivable $16,800, office equipment $52,000, and accounts payable $1
Multiple Choice $110,200 $29,400 $17,800 $74,600 $92,400
If beginning retained earnings was $184,900, net income for the period was $202,000 and ending retained earnings was $323,000
Multiple Choice $305,900 $340,100 $63,900 $138,100 $709,900
Ending liabilities are 68,900, beginning equity was $90,700, common stock issued during year totaled $32,900, expenses for th
Multiple Choice $159,600 $155,000 $137,800 $218,650 $254,650
If liabilities are $53,000 and assets are $173,500, then equity equals: Multiple Choice $120,500 $173,500 $226,500 $53,000
If the liabilities of a business increased $83,000 during a period of time and the equity in the business decreased $34,000 during the same period, the assets of the business must have: Multiple Choice Decreased $117,000 Decreased $49,000 Increased $49,000
Beta Corporation purchased $160,000 worth of land by paying 16,000 cash and signing a $144,000 mortgage. Immediately prior to this transaction the corporation had assets, liabilities, and owners' equity in the amounts of $156,000, $33,000, and $123,000 respectively. What is the total amount of Beta Corporation's assets after this transaction has been recorded?
Multiple Choice $316,000 $332,000 $49,000 $172,000 $300,000
FastForward has net income of $19,150 and assets at the beginning of the year of $213,000. Its assets at the end of the year total $272,000. Compute its return on assets.
Multiple Choice 7.9% 14.2% 8.9% 12.7% 7.0%
Determine the net income of a company for which the following information is available: Employee salaries expense Interest expense Rent expense Consulting revenue $ 197,000 27,000 37,000 570,000
$831,000 $298,000 $261,000 $570,000 $309,000
FastForward had cash inflows from operations of $64,100; cash outflows from investing activities of $48,600; and cash inflows from financing of $26,600. The net change in cash was:
Multiple Choice $139,300 increase $11,100 increase $42.100 decrease $42,100 increase $139,300 decrease
FastForward has beginning equity of $258,000, net income of $51100, dividends of $40,500, and investments by owners in exchange for stock of $6,100. Its ending equity is:
Multiple Choice $268,600 $241,300 $274,700 $223,600 $211,400
A company's balance sheet shows: cash $23,600, accounts receivable $16,800, office equipment $52,000, and accounts payable $17,800. What is the amount of equity?
Multiple Choice $110,200 $29,400 $17,800 $74,600 $92,400
If beginning retained earnings was $184,900, net income for the period was $202,000 and ending retained earnings was $323,000, what was the total amount of dividend distributed for the period?
Multiple Choice $305,900 $340,100 $63,900 $138,100 $709,900
Ending liabilities are 68,900, beginning equity was $90,700, common stock issued during year totaled $32,900, expenses for the year were $23,900, dividends declared totaled $14,900, ending equity for the year is $185,750, and beginning assets for the year were $225,800. What are the ending assets for the year?
Multiple Choice $159,600 $155,000 $137,800 $218,650 $254,650
Business Accounting
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Answers

1. Your required answer is option A i.e. $120,500

Explanation:

Equity = Assets - Liabilities

Equity = \$173500 - \$53000

Equity = \$120,500

2. Your required answer is option C i.e. $49,000 Increased

Explanation:

Assets Increased/(Decreased) = Increase in liability - Decrease in Liability

Assets Increased/(Decreased) = \$83000 - \$34000

Assets Increased/(Decreased) = \$49,000

3.

Your required answer is option E i.e. $300,000

Explanation:

Value in Assets after Transaction = Assets Before Transaction + Assets Purchased - Cash Paid against transaction

Value in Assets after Transaction = \$156,000 + \$160,000 - \$16,000

Value in Assets after Transaction = \$300,000

4. Your required answer is option A i.e. 7.9%

Explanation:

Return on Assets = \frac{Net Income}{Average of Total Assets}

Return on Assets = \frac{\$19,150}{\frac{\$213,000 + \$272,000}{2}}

Return on Assets = \frac{\$19,150}{\$242,500}

Return on Assets = 0.079 or 7.9\%

Note: As per Chegg Policy i can only answer maximum 1st four part of questions if there are a lot of different questions are given. Therefore i would request you to kindly ask remaining questions seperately.

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I hope this clear your doubt.

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