Misra Company Compiled the Following Financial Information as of December

question 190

Multiple Choice

Misra Company compiled the following financial information as of December 31, 2015: $$\begin{array} { l r } \text { Revenues } & \$ 340,000 \\\text { Retained earnings } ( 1 / 1 / 15 ) & 60,000 \\\text { Equipment } & 80,000 \\\text { Expenses } & 250,000 \\\text { Cash } & 90,000 \\\text { Dividends } & 20,000 \\\text { Supplies } & 10,000 \\\text { Accounts payable } & 40,000 \\\text { Accounts receivable } & 70,000 \\\text { Common stock } & 80,000\end{array}$$ Misra's assets on December 31, 2015 are

• A) $180,000.
• B) $250,000.
• C) $360,000. d $490,000.

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