Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

At December 31, 2018, the accounting records of Braun Corporation contain the following items: Accounts Payable $ 15,000 Accounts Receivable $ 38,000 Land $ 238,000

At December 31, 2018, the accounting records of Braun Corporation contain the following items:

Accounts Payable $ 15,000 Accounts Receivable $ 38,000
Land $ 238,000 Cash ?
Capital Stock ? Equipment $ 118,000
Building $ 178,000 Notes Payable $ 188,000
Retained Earnings $ 158,000

If Capital Stock is $258,000, what is the December 31, 2018 cash balance?

Multiple Choice

  • $47,000.

  • $619,000.

  • $93,000.

  • $85,000.

If Capital Stock is $318,000, total assets of Braun Corporation at December 31, 2018, amount to:

Multiple Choice

  • $103,000.

  • $717,000.

  • $679,000.

  • $917,000.

If Cash at December 31, 2018, is $84,000, Capital Stock is:

Multiple Choice

  • $611,000.

  • $257,000.

  • $295,000.

  • $166,000.

If Cash at December 31, 2018, is $24,000, total owners' equity is:

Multiple Choice

  • $158,000.

  • $393,000.

  • $361,000.

  • $596,000.

If Cash at December 31, 2018, is $64,000, total assets amount to:

Multiple Choice

  • $636,000.

  • $651,000.

  • $598,000.

  • $794,000.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management Accounting For Financial Decisions

Authors: Keith Ward ,Sri Srikanthan ,Richard Neal

1st Edition

0750600675, 978-0750600675

More Books

Students also viewed these Accounting questions