Below Is Accounting Information for Cascade Company for 2010 What Were the Total Assets for the Year?
A) $320,000

question 54

Multiple Choice

Below is accounting information for Cascade Company for 2010:
$$\begin{array} { | l | r | } \hline \text { Revenue } & \$ 416,000 \\\hline \text { Cash } & \$ 120,000 \\\hline \text { Common Stock } & \$ 200,000 \\\hline \text { Expenses } & \$ 300,000 \\\hline \text { Equipment } & \$ 240,000 \\\hline \text { Accounts Receivable } & \$ 35,000 \\\hline \text { Notes Payable } & \$ 50,000 \\\hline \text { Notes Receivable } & \$ 62,000 \\\hline\end{array}$$
What were the Total Assets for the year?

• A) $320,000
• B) $296,000
• C) $316,000
• D) $457,000
• E) $116,000

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