A Company Started the Current Year with Assets of $700,000

question 141

Multiple Choice

A company started the current year with assets of $700,000, liabilities of $350,000 and common stock of $200,000.During the current year, assets increased by $400,000, liabilities decreased by $50,000 and common stock increased by $275,000.There was no payment of dividends to owners during the year.
-Use the information above to answer the following question.Based on this information,what was the amount of retained earnings at the beginning of the year?

• A) $150,000.
• B) $850,000.
• C) $550,000.
• D) $350,000.

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Definitions:

Gendering Cognition

The process by which cognitive functions and perceptions are influenced or shaped by societal gender norms and expectations.

Math Ability

The capacity to understand, apply, and solve mathematical concepts, problems, and operations.

Achievement

A term referring to the successful completion or reaching of a goal, often recognized or rewarded.

Sexist Bias

Prejudiced beliefs or attitudes based on gender, typically manifesting as discrimination against one sex in favor of another.