At the Beginning of Year 2, X Company Had Assets

question 162

Multiple Choice

At the beginning of Year 2, X Company had assets of $300, liabilities of $150, and common stock of $50. During Year 2, the company earned revenue of $500, incurred expenses of $200, and paid dividends of $50. All transactions were cash transactionsThe amount of total assets reported on X Company's December 31, Year 2 balance sheet would be

• A) $550
• B) $250
• C) $300
• D) None of these answers are correct.

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Definitions:

Endorsed by Employees

Refers to actions or viewpoints that are supported and approved by a majority of staff within a workplace.

Challenging for Employees

Describes tasks or roles that require significant effort, skill, or perseverance, often leading to personal and professional growth.

Related to Rewards

Pertains to the connection between actions or performances and the positive outcomes or incentives provided in return.

Mediators

Third-party individuals who intervene in disputes or negotiations to help reach a settlement or agreement, without having the authority to make a binding decision.