The Bookkeeper for Wood Mfg -Refer to the Above Data

question 128

Multiple Choice

The bookkeeper for Wood Mfg. made the following journal entry on January 30, 2009:
$\begin{array}{|l|c|c|}\hline \text { Land} & 201,500 & \\\hline \text { Building . } & 84,500 & \\\hline \text { Cash } & & 65,000 \\\hline \text { Notes Payable} & & 221,000 \\\hline\end{array}$

-Refer to the above data. Before the journal entry above, Wood had assets, liabilities, and equity of $450,000, $100,000, and $350,000, respectively. What are total assets immediately after the above transaction occurs?

• A) $221,000.
• B) $671,000.
• C) $735,500.
• D) $450,000.

---

Definitions:

Place In This Document

A feature in document editing applications that allows users to create hyperlinks to specific locations within the same document.

Collapse

A user interface feature that lets users hide or minimize sections of content to simplify what is visible on the screen.

Pie Chart

A type of graph in which a circle is divided into sectors that each represent a proportion of the whole.

Emphasize A Slice

A technique in pie charts where a particular segment is visually distinguished from the others to highlight its importance.