Question
At the beginning of April, Warren Corporation's assets totaled $252,000 and liabilities totaled $72,000. During April the following summarized transactions occurred: Additional shares of stock
At the beginning of April, Warren Corporation's assets totaled $252,000 and liabilities totaled $72,000. During April the following summarized transactions occurred:
Additional shares of stock were sold for $26,000 cash.
A building costing $107,000 was purchased using $16,000 cash and by signing an $91,000 long-term note payable.
Short-term investments costing $10,200 were purchased using cash.
$11,200 was paid to an employee as a loan; the employee signed a six-month note in exchange for the loan.
How much are Warren's total assets at the end of April?
Multiple Choice
$262,000
$369,000
$262,200
$395,200
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