At the Beginning of April,Warren Corporation's Assets Totaled $240,000 and Liabilities

question 103

Multiple Choice

At the beginning of April,Warren Corporation's assets totaled $240,000 and liabilities totaled $60,000.During April the following summarized transactions occurred:
Additional shares of stock were sold for $20,000 cash.
A building costing $95,000 was purchased using $10,000 cash and by signing an $85,000 long-term note payable.
Short-term investments costing $9,000 were purchased using cash.
$10,000 was lent to an employee; the employee signed a six-month note in exchange for the loan.
How much are Warren's total assets at the end of April?

• A)$335,000
• B)$249,000
• C)$345,000
• D)$250,000

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Definitions:

Wealth And Power

The significant influence and control over resources and decision-making processes that individuals or groups may possess due to their economic status.

Organizational Position

The rank or status that an individual holds within a company's hierarchy.

Aggressive

Characterized by or displaying assertive, bold, and sometimes forceful behavior or attitudes.

Impulsive

Acting on or influenced by sudden desires or emotions without careful thought or consideration of the consequences.