Misra Company Compiled the Following Financial Information as of December

question 154

Multiple Choice

Misra Company compiled the following financial information as of December 31, 2018: $$\begin{array} { l r } \text { Revenues } & \$ 340,000 \\\text { Retained earnings } ( 1 / 1 / 18 ) & 60,000 \\\text { Equipment } & 80,000 \\\text { Expenses } & 250,000 \\\text { Cash } & 90,000 \\\text { Dividends } & 20,000 \\\text { Supplies } & 10,000 \\\text { Accounts payable } & 40,000 \\\text { Accounts receivable } & 70,000 \\\text { Common stock } & 80,000\end{array}$$
Misra's assets on December 31, 2018 are

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

---

Definitions:

HOME Tab

The primary tab in many software applications that contains the most commonly used functions and tools.

Datasheet

A display format that presents data in rows and columns, commonly used in database and spreadsheet applications.

Validation Rule

A criteria or constraint set in a database or application to ensure that only valid data can be entered.

State Field

A component in databases or software applications that captures and stores the current status of a process, item, or task.