On June 30, the Simpson Company Reported the Following Information

question 120

Multiple Choice

On June 30, the Simpson Company reported the following information on its balance sheet. $$\begin{array} { l r } \hline\text { Total current assets } & \$ 550,000 \\\text { Total long-ter } \mathrm { m } \text { assets } & \$ 1,120,000 \\\text { Total cur rent liabilities } & \$ 484,000 \\\text { Total long-ter } \mathrm { m } \text { debt } & \$ 705,000 \\\hline\end{array}$$ What is the amount of the stockholder's equity in the Simpson Company?

• A) $481,000
• B) $636,000
• C) $965,000
• D) There is not enough information to calculate stockholders' equity.

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Definitions:

CJD

Creutzfeldt-Jakob Disease, a rare, degenerative, invariably fatal brain disorder marked by rapid cognitive decline and caused by prions.

Papovaviruses

A group of DNA viruses, known to cause diseases in humans and animals, including papillomas, polyomas, and vacuolating viruses.

Nucleic Acid

A macromolecule composed of nucleotide chains, which includes DNA and RNA, fundamental for the storage and transmission of genetic information.

Enveloped Viruses

Viruses that possess an outer lipid membrane (envelope), which often plays a role in the infectious process.