Beginning Assets Were $700,000,Beginning Equity Was $225,000,Revenue for the Year

question 155

Multiple Choice

Beginning Assets were $700,000,Beginning Equity was $225,000,Revenue for the year was $523,000,Common Stock sold during the year totaled $320,000,Expenses for the year were $392,000,Ending Equity is $751,000,and Ending Assets are $963,000.
What were the Beginning Liabilities for the year?

• A)$738,000
• B)$998,000
• C)$131,000
• D)$203,000
• E)$475,000

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Definitions:

Resistance To Flow

The opposition encountered by a substance as it moves through another substance, often referred to as viscosity in fluids.

Hydraulic Systems

Systems that use fluid pressure to power machines or mechanisms, transforming hydraulic energy into mechanical energy.

Open Circuit Principle

The concept where an electrical circuit does not complete its path, resulting in no current flow due to a break or gap.

Garbage Packer Cylinders

Hydraulic cylinders used in refuse collection vehicles to compact garbage, increasing the efficiency of waste transportation.