The Smith Corp

question 149

Multiple Choice

The Smith Corp.began business this year and entered into the following transactions during the year.The company issued common stock in exchange for cash of $80,000 from stockholders,borrowed $40,000 from a bank,bought $12,000 of inventory on account,and purchased $32,000 of equipment by paying $12,000 in cash and issuing a note for the remainder.What is the amount of total assets to be reported on the balance sheet at the end of the year?

• A)$104,000
• B)$120,000
• C)$128,000
• D)$152,000

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Definitions:

Sex Stereotyping

The act of assigning roles, behaviors, or attributes to an individual solely based on their gender.

Disruptive Behavior

Repeated actions that interrupt the normal flow of operations or activities, often causing disturbances or problems.

Parent/Child Communication

This refers to the exchange of information, emotions, and ideas between a parent and their child, influencing the child's development and emotional well-being.

Directives

Instructions or orders issued by an authority, guiding the behavior or actions of individuals or organizations.