At December 31,2017,the Accounting Records of Tasty Foods Corporation Contain

question 75

Multiple Choice

At December 31,2017,the accounting records of Tasty Foods Corporation contain the following:
$$\begin{array} { l r l r } \text { Accounts payable } & \$ 16,000 & \text { Accounts receivable } & \$ 40,000 \\\text { Land } & 240,000 & \text { Cash } & ? \\\text { Capital stock } & ? & \text { Equipment } & 120,000 \\\text { Building } & 180,000 & \text { Notes payable } & 190,000 \\\text { Retained earnings } & 160,000 & &\end{array}$$
- If capital stock is $260,000,what is the December 31,2017 cash balance?

• A)$46,000
• B)$506,000
• C)$94,000
• D)$86,000

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Definitions:

Benthic Environment

Ocean floor divided into zones based on distance from land, light availability, and depth.

Exclusively

Without involving anything or anyone else; solely.

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Aquatic larvae of certain midge species, characterized by their red color due to hemoglobin in the blood, often used as fishing bait and in aquarium feeding.

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Marine ecosystems characterized by reef-building corals; known for their biodiversity, they are often referred to as the "rainforests of the sea."