Cantrell Industries Spent $386,000 to Purchase Equipment Three Years Ago

question 376

Multiple Choice

Cantrell Industries spent $386,000 to purchase equipment three years ago. This equipment is currently valued at $276,000 on today's statement of financial position but could be sold for $298,000. Net working capital is $56,000 and long-term debt is $171,000. What is the book value of shareholders' equity?

• A) $49,000
• B) $71,000
• C) $105,000
• D) $161,000
• E) $183,000

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Definitions:

Regulatory Agencies

Governmental bodies responsible for exercising authority over some area of human activity in a regulatory or supervisory capacity, often to enforce laws.

Political Skill

The ability to effectively understand others at work and use such knowledge to influence others to act in ways that enhance personal and/or organizational objectives.

External Networks

Connections and relationships formed outside an organization's immediate environment, often used for strategic advantages.

Regulatory Agencies

Governmental bodies responsible for overseeing and enforcing laws and regulations within specific industries to protect public interest.