On May 31 of the Current Year, the Assets and Liabilities

question 52

Multiple Choice

On May 31 of the current year, the assets and liabilities of Riser, Inc. are as follows: Cash $20,500; Accounts Receivable, $7,250; Supplies, $650; Equipment, $12,000; Accounts Payable, $9,300. What is the amount of owner's equity as of May 31 of the current year?

• A) $13,050.
• B) $49,700.
• C) $40,400.
• D) $31,100.
• E) $20,500.

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Definitions:

Celebrate Diversity

The act of recognizing, respecting, and valuing differences among individuals in terms of ethnicity, gender, age, national origin, disability, sexual orientation, education, and religion.

Ignore Differences

The deliberate or unintentional refusal to recognize or acknowledge variations between entities or pieces of information.

Common Ingroup Identity

A recategorizing of members of two or more distinct groups into a single, overarching group.

Different Races

refers to distinct groups of humans classified based on shared physical or social qualities into categories generally viewed as distinct by society.