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

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