On December 31, 2001, Virginia Laboratories Had Assets of $235,000

question 143

Multiple Choice

On December 31, 2001, Virginia Laboratories had assets of $235,000 and owners equity of $84,000. We can conclude that on December 31, 2001, Virginia Laboratories balance sheet showed:

• A)Total liabilities of $151,000.
• B)Suffered a net loss of $151,000.
• C)Experienced a cash inflow of $319,000.
• D)Paid a dividend of $3.00 per share.

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Definitions:

Enzyme-Filled Sac

A structure within a cell, containing enzymes, that is involved in processing molecules or in metabolic reactions.

Sperm

The male reproductive cells or gametes in sexually reproducing organisms, responsible for fertilization.

Fertilization

The process in which an egg unites with a sperm.

Surgical Removal

The process of excising or cutting out tissue, organs, or other structures from the body, typically as part of treatment for diseases or conditions.