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vitfil [10]
3 years ago
8

Chris's Maid Service began the year with total assets of $120,000 and stockholders' equity of $40,000. During the year the compa

ny earned $120,000 in net income and paid $15,000 in dividends. Total assets at the end of the year were $225,000. How much are total liabilities at the end of the year? $95,000 $105,000 $90,000 $110,000 $80,000
Business
1 answer:
Brilliant_brown [7]3 years ago
3 0

Answer:

How much are total liabilities at the end of the year?$80,000

Explanation:

                 Beg Balance      deb cre  End.Balance

Total assets              120000 105000         225000

Liabilities               80000                    80000

   

Equity                        40000                    40000

Earning                                       120000 120000

Dividens paid                          15000            -15000

Total equity             40000 15000 120000 145000

                                   0         120000 -120000 0

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Answer:

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C. The cost to build the old stadium shouldn’t be considered.

And this is the correct answer:

A. They should be more willing to tear down the $5 million stadium, because it cost less to build.

Explanation:

City A will likely be more willing to tear down its old stadium because it costed $5 million to build. City B, on the other hand, will have to think twice because a stadium that costed $50 billion to build could have more value than it seems, or the City could simply not have enough money to build a better new stadium (something that would probably cost more than $50 billion to do).

4 0
3 years ago
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individuals in different segments should have ______ within the segment and ______ across the segments.
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similarities; differences Is correct answer

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2 years ago
Suppose that the nominal exchange rate is .80 euro per dollar, that the price of a basket of goods in the U.S. is $500 and the p
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7 0
3 years ago
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