Question
As of December 31, 2016, ABC Co. had total owners equity of $8,000,000 and total liabilities of $4,000,000. During 2016, ABC Co. had total revenues
-
As of December 31, 2016, ABC Co. had total owners equity of $8,000,000 and total liabilities of $4,000,000. During 2016, ABC Co. had total revenues of $9,000,000 and total expenses of $3,400,000. As of December 31, 2016, what were ABC Co.s total assets?
a. $12,400,000.
b. $12,000,000.
c. $4,000,000.
d. $5,600,000.
As of December 31, 2016, ABC Co. had total owners equity of $8,000,000 and total liabilities of $4,000,000. During 2016, ABC Co. had total revenues of $9,000,000 and total expenses of $3,400,000. As of December 31, 2016, what were ABC Co.s total assets?
| a. | $12,400,000. | |
| b. | $12,000,000. | |
| c. | $4,000,000. | |
| d. | $5,600,000. |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
My Favorite Auditor Gave Me This Book
Authors: Funny Planner Publishing
1st Edition
1676058060, 978-1676058069
