Gerald Company has the following account balances at the end of the first year of operations: Revenues $101,000 $36,000 Salaries Expense Dividends $12,000 Utilities Expense $11,000 Advertising Expense $10,000 Cash $35,000 Land $52,000 Common Stock $55,000 What are total assets at the end of the first year? O A. $35.000 B. $208,000 OC. $87,000 D. $107.000
Gerald Company has the following account balances at the end of the first year of operations: Revenues $101,000 $36,000 Salaries Expense Dividends $12,000 Utilities Expense $11,000 Advertising Expense $10,000 Cash $35,000 Land $52,000 Common Stock $55,000 What are total assets at the end of the first year? O A. $35.000 B. $208,000 OC. $87,000 D. $107.000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Gerald Company has the following account balances at the end of the first year of operations:
Revenues
$101,000
$36,000
Salaries Expense
Dividends
$12,000
Utilities Expense
$11,000
Advertising Expense
$10,000
Cash
$35,000
Land
$52,000
Common Stock
$55,000
What are total assets at the end of the first year?
O A. $35.000
B. $208,000
OC. $87,000
D. $107.000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8d3b97dc-9378-4d54-9675-04e41c19d130%2F7041fc0e-8951-41ba-af6f-3e65fc3671e1%2Fymzkh7s_processed.png&w=3840&q=75)
Transcribed Image Text:Gerald Company has the following account balances at the end of the first year of operations:
Revenues
$101,000
$36,000
Salaries Expense
Dividends
$12,000
Utilities Expense
$11,000
Advertising Expense
$10,000
Cash
$35,000
Land
$52,000
Common Stock
$55,000
What are total assets at the end of the first year?
O A. $35.000
B. $208,000
OC. $87,000
D. $107.000
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