On June 30 of the Current Year, the Assets and Liabilities

question 177

Multiple Choice

On June 30 of the current year, the assets and liabilities of Phoenix, Inc. are as follows: Cash $20,500; Accounts Receivable, $7,250; Supplies, $650; Equipment, $12,000; Accounts Payable, $9,300. What is the amount of owner's equity as of July 1 of the current year?

• A) $8,300
• B) $13,050
• C) $20,500
• D) $31,100
• E) $40,400

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Definitions:

Solution-Oriented Therapist

A therapist who focuses on finding practical solutions to clients' problems rather than focusing on the problems themselves.

Daily Successes

Small achievements that contribute to personal or professional growth, accomplished within a day.

Solution Focused Therapists

Professionals who employ a goal-directed collaborative approach to therapeutic change, focusing primarily on solutions rather than problems or symptoms.

Problem's Resolution

The process of solving a difficulty or dealing with a challenging situation in a conclusive manner.