Kelly Company Has Total Assets, Liabilities, and Shareholders' Equity of $30,000

question 6

Essay

Kelly Company has total assets, liabilities, and shareholders' equity of $30,000, $17,000, and $13,000, respectively at the beginning of 2010. If Kelly reports revenues of $130,000, expenses of $85,000, and pays dividends of $30,000, how much is shareholders' equity at the end of 2010?
a. $28,000
b. $53,000
c. $44,000
d. Not enough information to determine.

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Definitions:

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The executive branch of a provincial government, usually composed of elected officials who head various departments and are responsible for implementing laws and policies.