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XYZ Company went out of business and was sold to pay off as much debt as possible. It showed the following information on its balance sheet. What, if any revenue will the shareholders receive?   Current assets $700,000   Fixed assets $1,500,000   Current liabilities $387,000   Long-term liabilities $945,000     (A) $868,000   (B) $313,000   (C) $168,000   (D) $-632,000

XYZ Company went out of business and was sold to pay off as much debt as possible. It showed the following information on its balance sheet. What, if any revenue will the shareholders receive?   Current assets $700,000   Fixed assets $1,500,000   Current liabilities $387,000   Long-term liabilities $945,000     (A) $868,000   (B) $313,000   (C) $168,000   (D) $-632,000

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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XYZ Company went out of business and was sold to pay off as much debt as possible. It showed the following information on its balance sheet. What, if any revenue will the shareholders receive?

 

Current assets $700,000

 

Fixed assets $1,500,000

 

Current liabilities $387,000

 

Long-term liabilities $945,000

 

 

(A) $868,000

 

(B) $313,000

 

(C) $168,000

 

(D) $-632,000

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