Mirah Company Compiled the Following Financial Information as of December

question 151

Multiple Choice

Mirah Company compiled the following financial information as of December 31, 2020: $\begin{array}{lr}\text { Revenues } & \$ 340,000 \\\text { Owner's Capital }(1 / 1 / 20) & 140,000 \\\text { Equipment } & 80,000 \\\text { Expenses } & 240,000 \\\text { Cash } & 90,000 \\\text { Owner's Drawings } & 20,000 \\\text { Supplies } & 20,000 \\\text { Accounts payable } & 40,000 \\\text { Accounts receivable } & 70,000\end{array}$ Mirah's assets on December 31, 2020 are

• A) $190,000.
• B) $260,000.
• C) $360,000. d $480,000.

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Definitions:

Death Penalty

A legal punishment involving the execution of an individual by the state as retribution for a crime.

Morality Issue

A dilemma or situation that requires a choice between actions that are judged according to a system of ethics, right, and wrong.

Sufficiently Retributive

Adequately punishing or taking vengeance for wrongdoing in a manner that is considered just.

Life Sentence

A prison sentence that keeps the convicted individual incarcerated for the rest of their life, often without the possibility of parole.