Sawaddee Enterprises Began the Year with Total Assets of $450,000

question 195

Multiple Choice

Sawaddee Enterprises began the year with total assets of $450,000 and total liabilities of $230,000.If Sawaddee's total assets increased by $80,000 and its total liabilities increased by $57,000 during the year,what is the amount of Sawaddee's owners' equity at the end of the year?

• A)$197,000
• B)$543,000
• C)$243,000
• D)$220,000

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Definitions:

Public Savings

The portion of national savings held by the government, typically reflected in budget surpluses.

Personal Income

The total amount of income earned by an individual from all sources before any taxes are deducted.

Autonomous Consumption

Describes the expenditure that consumers will make even when they have no income, considering it as a basic level of consumption driven by needs.

Saving

The act of setting aside money for future use, reducing current consumption.