Murphy Corporation's End-Of-Year Balance Sheet Consisted of the Following Amounts

question 141

Multiple Choice

Murphy Corporation's end-of-year balance sheet consisted of the following amounts: ? $$\begin{array} { l r l r } \text { Cash } & \$ 35,000 & \text { Accounts receivable } & \$ 46,000 \\\text { Property, plant \& equip ment } & 69,000 & \text { Long-term debt } & 41,000 \\\text { Capital stock } & 107,000 & \text { Accounts payable } & 22,000 \\\text { Retained earnings } & ? & \text { Inventory } & 33,000\end{array}$$ ?
?
What is Murphy's owners' equity balance at the end of the current year?

• A) $3,000
• B) $120,000
• C) $63,000
• D) $173,000

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Definitions:

Embryonic Germ Layer

One of the three primary layers of cells (endoderm, mesoderm, ectoderm) in the very early embryo that gives rise to all the body's organs and tissues.

Ectoderm

The outermost layer of cells or tissue of an embryo in early development that gives rise to the formation of the skin and nervous system.

Malignant Tumor

A type of tumor that invades surrounding tissues, is capable of spreading to other parts of the body, and can be life-threatening.

Connective Tissue

A category of body tissue that plays a role in supporting, connecting, or distinguishing different organs and tissue varieties.