Ramos Inc. has total assets of $1,000 and total liabilities of $450 on December 31, 20Y8. Assume that assets increased by $130 and liabilities decreased by $25 during 20Y9. What w December 31, 20Y9? a. $705 O b. $655 O c. $1,295 O d. $550

Ramos Inc. has total assets of $1,000 and total liabilities of $450 on December 31, 20Y8. Assume that assets increased by $130 and liabilities decreased by $25 during 20Y9. What w December 31, 20Y9? a. $705 O b. $655 O c. $1,295 O d. $550

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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Question

Ramos Inc. has total assets of $1,000 and total liabilities of $450 on December 31, 20Y8. Assume that assets increased by $130 and liabilities decreased by $25 during 20Y9. What would
December 31, 20Y9?
O a. $705
O b. $655
O c. $1,295
O d. $550

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