Mica Inc Began Operations in October, 2014

question 196

Multiple Choice

Mica Inc. began operations in October, 2014. During October, Mica sold ordinary shares for €600,000, earned revenue of €66,000, incurred expenses of €36,000, and paid dividends of €3,000. Equity at the end of the month is

• A) €27,000.
• B) €30,000.
• C) €627,000.
• D) €630,000.

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