Elston Company Compiled the Following Financial Information as of December

question 134

Multiple Choice

Elston Company compiled the following financial information as of December 31 2022: $$\begin{array} { l r } \text { Service revenue } & \$ 840,000 \\\text { Common stock } & 180,000 \\\text { Equipment } & 240,000 \\\text { Operating expenses } & 750,000 \\\text { Cash } & 210,000 \\\text { Dividends } & 60,000 \\\text { Supplies } & 30,000 \\\text { Accounts payable } & 120,000 \\\text { Accounts receivable } & 300,000 \\\text { Retained earnings, } 1 / 1 / 22 & 450,000\end{array}$$ Elston's assets on December 31 2022 are

• A)$1620000.
• B)$1230000.
• C)$750000.
• D)$780000.

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Definitions:

Tao Te Ching

An ancient Chinese text fundamental to Taoism, attributed to Laozi, that emphasizes living in harmony with the Tao, or the fundamental nature of the universe.

Presuppositions

Implicit assumptions or beliefs that are taken for granted without being explicitly stated, serving as a foundation for reasoning and discourse.

Philosophers

Individuals dedicated to studying and exploring questions about existence, ethics, knowledge, and the mind.

Distributive Justice

The fair apportionment of goods and services.