Use the Following Information to Answer Questions

question 9

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 assets on Packard's 2016 balance sheet is

• A)$2,115.
• B)$440.
• C)$2,215.
• D)$395.

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Definitions:

Method

A method is a block of code defined within a class in object-oriented programming that performs a specific task.

Finally Block

A block of code in many programming languages that is executed after a try block, regardless of whether an exception was thrown or caught.

Try Block

A block of code in programming that is used to encapsulate a segment where exceptions might occur, allowing for exceptions to be caught and handled.

Execution

The process of running a program or command, whereby the code is carried out by the computer's CPU.