Gerald Company has the following account balances at the end of the first year of operations: Revenues $103,000 $36,000 Salaries Expense Dividends $8,000 $11,000 $7,000 Cash $34,000 Land $58,000 Common Stock $51,000 What are total assets at the end of the first year? Utilities Expense Advertising Expense OA. $92,000 OB. $34,000 OC. $119,000 OD. $222,000
Gerald Company has the following account balances at the end of the first year of operations: Revenues $103,000 $36,000 Salaries Expense Dividends $8,000 $11,000 $7,000 Cash $34,000 Land $58,000 Common Stock $51,000 What are total assets at the end of the first year? Utilities Expense Advertising Expense OA. $92,000 OB. $34,000 OC. $119,000 OD. $222,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Gerald company question attahed in ss below
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
Transcribed Image Text:Gerald Company has the following account balances at the end of the first year of operations:
Revenues
$103,000
$36,000
Salaries Expense
Dividends
$8,000
Utilities Expense
Advertising Expense
$11,000
$7,000
Cash
$34,000
Land
$58,000
Common Stock
$51,000
What are total assets at the end of the first year?
O A. $92,000
OB. $34,000
OC. $119,000
OD. $222,000
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