The Following Information Was Extracted from the Accounting Records of Yamaguchi

question 68

Multiple Choice

The following information was extracted from the accounting records of Yamaguchi Company:
$\begin{array} { l } \text {Paid-in Capital, December 31, 2014 }&\$87,000\\ \text { Retained Earnings, December 31, 2014}&\$211,000\\ \text { Total Assets, December 31, 2014}&\$455,000\\ \text {Revenues for year ended December 31, 2015 }&\$200,000\\ \text { Expenses for year ended December 31, 2015 }&\$165,000\\ \text {Total Assets, December 31, 2015 }&\$605,000\\ \text {Additional investments by owners in 2015 }&\$10,000\\\end{array}$

At December 31,2014,what is the total amount of liabilities?

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

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Definitions:

Carbon Dioxide

A colorless, odorless gas produced by burning carbon and organic compounds and by respiration, essential to plant photosynthesis.

Alveoli

Tiny air sacs in the lungs where the exchange of oxygen and carbon dioxide occurs.

Diaphragm

A dome-shaped, muscular partition separating the thorax from the abdomen in mammals, playing a major role in breathing by contracting and expanding the lungs.

Bronchi

The large air passages that lead from the trachea (windpipe) into the lungs and become smaller tubes within the lungs called bronchioles.