Michael Company reports Total Assets of $252,000. Common stock of $47,000 and retaind earnings of $112,000. What are the total liabilties at the end of the year? A. $93,000 B. $140,000 C. $187,000 D.$ 205,0

Michael Company reports Total Assets of $252,000. Common stock of $47,000 and retaind earnings of $112,000. What are the total liabilties at the end of the year? A. $93,000 B. $140,000 C. $187,000 D.$ 205,0

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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WD Corporation reports the following year-end balance sheet data. The company's debt-to-equity ratio equals: Cash $ 42,000 Current liabilities $ 77,000 Accounts receivable 57,000 Long-term liabilities 28,000 Inventory 62,000 Common stock 102,000 Equipment 147,000 Retained earnings 101,000 Total assets $ 308,000 Total liabilities and equity $ 308,000
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