The Following Information Was Extracted from the Accounting Records of Kristie

question 122

Multiple Choice

The following information was extracted from the accounting records of Kristie Company:
$\begin{array} { l } \text {Paid-in Capital, December 31, 2014 }&\$87,000\\ \text { Retained Earnings, December 31, 2014 }&\$211,000\\ \text {Total Assets, December 31, 2014 }&\$455,000\\ \text { Revenues for year ended December 31, 2015}&\$200,000\\ \text {Expenses for year ended December 31, 2015 }&\$165,000\\ \text {Cash Dividends Declared }&\$0\\ \text {Total Assets, December 31, 2015 }&\$605,000\\ \text {Additional investments by owners in 2015 }&\$0\\\end{array}$

At December 31,2015,what is the total amount of liabilities?

• A) $45,000
• B) $150,000
• C) $157,000
• D) $272,000

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Definitions:

Cultural Meanings

The shared significance or value assigned to objects, actions, and ideas within a culture, shaping how they are understood and interpreted.

Implicit Feminist Assumptions

Unstated or indirect beliefs grounded in feminist theories that influence perspectives or analyses without being explicitly expressed.

Capitalist Structures

Economic and social systems characterized by private ownership of the means of production, profit motive, and market competition.

Social Structures

The organized patterns of social relationships and social institutions that together compose society.