If assets are $300,000 and liabilities are $192,000, then equity equals:
A) $108,000.
B) $192,000.
C) $300,000.
D) $492,000.
E) $792,000.
A) $108,000.
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On June 1, Dalton Productions had beginning balances as shown in the T-accounts below.
During June, the following transaction took place:
June 2: Issued $2200 of direct materials and $700 of indirect materials to production.
What was the balance in the Manufacturing Overhead account following this transaction?
A) $43,900
B) $43,200
C) $41,700
D) $41,000
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