For Period ending December 31, 2020 Midtown Toy Works operated in 2020 with the following facts No new Common Stock was issued in 2020 $ 300 Cash at the beginning of 2020 $ 15,000 Revolving Line of Credit (RLOC) proceeds were received this year RLOC proceeds have already been recorded in Cash and Revolving Line of Credit Payable The RLOC is treated by Midtown Toy Works as a Current Liability $ 22,500 Bank Loans repaid during this year Repayment of Bank Loans has already been recorded in Cash and Notes Payable $ 11,350 Accounts Payable from 2019 $ 6,350 Taxes Payable from 2019 $ 46,500 Receivables from 2019 $ 38,600 Inventory from 2019 $ 1,000 Prepaid Expenses from 2019 $ 67,000 Equipment from 2019 What are the TOTAL OWNERS EQUITY as reported in the Balance Sheet tab of your completed spreadsheet Group of answer choices $130,400 $146,400 $150,400 $148,400

Question

For Period ending December 31, 2020 Midtown Toy Works operated in 2020 with the following facts  No new Common Stock was issued in 2020 $ 300 Cash at the beginning of 2020 $ 15,000 Revolving Line of Credit (RLOC) proceeds were received this year  RLOC proceeds have already been recorded in Cash and Revolving Line of Credit Payable  The RLOC is treated by Midtown Toy Works as a Current Liability  $ 22,500 Bank Loans repaid during this year Repayment of Bank Loans has already been recorded in Cash and Notes Payable  $ 11,350 Accounts Payable from 2019 $ 6,350 Taxes Payable from 2019 $ 46,500 Receivables from 2019 $ 38,600 Inventory from 2019 $ 1,000 Prepaid Expenses from 2019 $ 67,000 Equipment from 2019 What are the TOTAL OWNERS EQUITY as reported in the Balance Sheet tab of your completed spreadsheet  Group of answer choices $130,400 $146,400 $150,400 $148,400

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For Period ending December 31, 2020 Midtown Toy Works operated in 2020 with the following facts: No new Common Stock was issued in 2020 $

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For Period ending December 31, 2020
Midtown Toy Works operated in 2020 with the following facts:

	No new Common Stock was issued in 2020
	$ 300	Cash at the beginning of 2020
	$ 15,000	Revolving Line of Credit (RLOC) proceeds were received this year.
	RLOC proceeds have already been recorded in Cash and Revolving Line of Credit Payable.
	The RLOC is treated by Midtown Toy Works as a Current Liability.
	$ 22,500	Bank Loans repaid during this year
	Repayment of Bank Loans has already been recorded in Cash and Notes Payable.
	$ 11,350	Accounts Payable from 2019
	$ 6,350	Taxes Payable from 2019
	$ 46,500	Receivables from 2019
	$ 38,600	Inventory from 2019
	$ 1,000	Prepaid Expenses from 2019
	$ 67,000	Equipment from 2019