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Golden Company had the following accounts and balances at the end of the year. Cash $76,000 Accounts Payable $21,000 Common Stock $21,000 Dividends $12,000 Inventory $42,000 Long-term Notes Payable $33,000 Revenues $135,000 Salaries Payable $33,000 What are total assets at the end of the year? A) $118,000 B) $172,000 C) $130,000 D) $76,000

Golden Company had the following accounts and balances at the end of the year. Cash $76,000 Accounts Payable $21,000 Common Stock $21,000 Dividends $12,000 Inventory $42,000 Long-term Notes Payable $33,000 Revenues $135,000 Salaries Payable $33,000 What are total assets at the end of the year? A) $118,000 B) $172,000 C) $130,000 D) $76,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Golden Company had the following accounts and balances at the end of the year. Cash $76,000 Accounts Payable $21,000 Common Stock $21,000 Dividends $12,000 Inventory $42,000 Long-term Notes Payable $33,000 Revenues $135,000 Salaries Payable $33,000 What are total assets at the end of the year? A) $118,000 B) $172,000 C) $130,000 D) $76,000
Transcribed Image Text:Golden Company had the following accounts and balances at the end of the year. Cash $76,000 Accounts Payable $21,000 Common Stock $21,000 Dividends $12,000 Inventory $42,000 Long-term Notes Payable $33,000 Revenues $135,000 Salaries Payable $33,000 What are total assets at the end of the year? A) $118,000 B) $172,000 C) $130,000 D) $76,000
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