Use the Following Information for Questions
EI Greco Corporation

question 168

Multiple Choice

Use the following information for questions
EI Greco Corporation began operations on January 1, 2011.Presented below is selected information related to EI Greco at December 31, 2011. $$\begin{array} { l r l r } \text { Equipment } & € 145,000 & \text { Utilities Expense } & € 18,000 \\\text { Cash } & 42,000 & \text { Accounts Receivable } & 41,000 \\\text { Service Revenue } & 324,000 & \text { Wages Expense } & 121,000 \\\text { Rent Expense } & 39,000 & \text { Notes Payable } & 48,000 \\\text { Accounts Payable } & 22,000 & \text { Dividends } & 45,000 \\\text { Share Capital } & 84,000 & \text { Wages Payable } & 8,000 \\\text { Supplies } & 15,000 & \text { Advertising Expense } & 20,000\end{array}$$
-The statement of financial position at December 31, 2011 reports equity of

• A)\(€ 210,000\)
• B) \(€ 165,000\)
• C) \(€ 90,000\)
• D) \(€ 81,000\)

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Definitions:

Promisee's Will

The intention or decision of the person to whom a promise is made in a contract.

Promisee's Death

In contract law, refers to the situation where the individual to whom a promise was made dies, impacting the enforcement or terms of the contract.

Policy

A principle or rule adopted or proposed by an organization or government to guide decisions and achieve rational outcomes.

Rights

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