Garcia Company Began 2010 with Net Assets of $80, 000

question 97

Multiple Choice

Garcia Company began 2010 with net assets of $80, 000.Net income calculated by using the capital maintenance concept was $21, 000.During 2010 owners contributed $26, 000 of new capital.By year-end, the net assets totaled $78, 000.Dividends to the owners during 2010 were

• A)$49, 000
• B)$28, 000
• C)$23, 000
• D)$ 2, 000

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Definitions:

Opportunity

A set of circumstances that makes it possible to do something or for something to happen; often linked with potential for success or advancement.

Strength

The ability of an individual or object to withstand force or pressure without breaking or giving way.

Finance Applications

Software tools or platforms designed to manage, track, or analyze financial transactions and processes.

Operational Planning

The process of outlining specific procedures and processes aimed at achieving tactical goals within an organization.