Asked by Saarthak Sharma on Jun 21, 2024
Verified
The liabilities and stockholder's equity of a company are $132,000 and $244,000, respectively. Assets should equal
A) $188,000
B) $132,000
C) $376,000
D) $112,000
Liabilities
Economic dues a company is obligated to clear with others, which involves dispensing economic benefits progressively over time.
Stockholder's Equity
Ownership interest represented by what remains of a company's assets once all liabilities have been deducted.
Assets
Resources owned by a business that have economic value and can be used to meet debts or generate income.
- Learn the procedures involved in preparing and structuring a balance sheet.
Verified Answer
Assets = Liabilities + Stockholder's Equity
Assets = $132,000 + $244,000
Assets = $376,000
Hence, the correct answer is option C.
Learning Objectives
- Learn the procedures involved in preparing and structuring a balance sheet.
Related questions
Two Items Are Omitted from Each of the Following Summaries ...
An Analysis of the Transactions Made by Dewey Cheatem ...
Prepare a Balance Sheet for Fernandez Company Assuming the Current ...
Sandy's Balance Sheet Shows Assets of $120,000,liabilities of $100,000,and Shareholders ...
In Preparing Financial Budgets ...