Kelly Company Has Total Assets, Liabilities, and Shareholders' Equity of $32,000

question 32

Multiple Choice

Kelly Company has total assets, liabilities, and shareholders' equity of $32,000, $17,000, and $15,000, respectively at the beginning of 2018. If Kelly reports revenues of $130,000, expenses of $80,000, and pays dividends of $30,000, how much is shareholders' equity at the end of 2018?

• A)$35,000
• B)$53,000
• C)$44,000
• D)Not enough information to determine.

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Definitions:

Affiliation

The sense of connection or association with a group or organization, often resulting in a feeling of belongingness.

Achievement

The act of accomplishing a goal or attaining a high level of performance through effort or skill.

Esteem

A regard for or a sense of worth or importance of someone or something.

Bariatric Surgery

A group of surgical procedures aimed at weight loss by modifying the stomach and/or intestines.