Use the Following Information as of December 31 to Determine

question 154

Multiple Choice

Use the following information as of December 31 to determine equity. Liabilities……………… $141,000
Cash…………………… 57,000
Equipment…………….. 206,000
Buildings........................ 175,000

• A)$57,000.
• B)$141,000.
• C)$297,000.
• D)$438,000.
• E)$579,000.

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Definitions:

Original Parties

The initial entities or individuals who are directly involved in a legal agreement or contract.

Incidental

Referring to something that occurs as a minor or secondary consequence of something else.

Unintentional Benefit

A positive outcome or advantage that occurs without the intent to produce such an effect, often an incidental result of an action.

Directly Benefit

To receive an immediate, positive impact from an action or decision, without intermediary steps.