Sawaddee Enterprises began the year with total assets of $450,000 and total liabilities of $230,000 . If Sawaddee's total assets doubled to $1,000,000 and its owners' equity remained the same during the year, what was the amount of its total liabilities at the end of the year?
a. $220,000
b. $680,000
c. $780,000
d. $900,000
c
You might also like to view...
Which of the following is a common error that MOST hinders the accurate interpretation of data?
a. Interpretation of results from a large sampling b. Tabulation of a questionnaire with many items c. Assumption of a cause-effect relationship when one does not exist d. Application of statistical analysis
Broadnorf Warbeagle is specifically designated to receive cash benefits of $2,000 from Ferd under a contract solely between Cantwell and Ferd. Cantwell owes Broadnorf $4,000 . Ferd had never heard of Broadnorf before his recent contract with Cantwell.The fact situation suggests the existence of
a. third-party rights and a delegation of duties. b. an accord and satisfaction. c. a substantial performance of a liquidated damage clause. d. a statutory mutual assent.
Which criterion should a firm consider when evaluating candidate software packages?
A) functional capabilities of the packaged system B) technical requirements the software must satisfy C) business characteristics of the vendor firm D) all of the above
What are some of the most important considerations when choosing a database management system?
What will be an ideal response?