Use the Following Information to Answer Questions

question 145

Multiple Choice

Use the following information to answer questions
Packard Company engaged in the following transactions during 2015,its first year in operations: (Assume all transactions are cash transactions. )
1) Acquired $950 cash from the issue of common stock.
2) Borrowed $420 from a bank.
3) Earned $650 of revenues.
4) Paid expenses of $250.
5) Paid a $50 dividend.
During 2016,Packard engaged in the following transactions: (Assume all transactions are cash transactions. )
1) Issued an additional $325 of common stock.
2) Repaid $220 of its debt to the bank.
3) Earned revenues of $750.
4) Incurred expenses of $360.
5) Paid dividends of $100.
-The amount of total equity on Packard's 2015 balance sheet is

• A)$1,350.
• B)$900.
• C)$250.
• D)$1,300.

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Definitions:

Dilation

The process of expanding or widening in size; in physiology, it often refers to the widening of blood vessels or pupils in response to specific stimuli.

Dark Adaptation

The process by which the eyes become more sensitive to low levels of light after being in brighter light, allowing for better vision in darkness or dimness.

Absolute Thresholds

The minimum intensity of stimulation required to detect a particular sensory input 50% of the time.

Peripheral Vision

The part of vision that occurs outside the very center of gaze, allowing for the detection of stimuli and movement in a wider field around the direct line of sight.