201 FS 5 - 201 Articulation 1 At the end of the year a company has the following balances Current Assets = $55,000 Non-current Assets = $145,000

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201 Articulation 1. At the end of the year, a company has the following balances: Current Assets = $55,000; Non-current Assets = $145,000; Current Liabilities = $40,000. Assume no stock transactions. What is the amount of total liabilities and equities? a. $100,000 b. $160,000 c. $200,000 d. Cannot be calculated with the information provided e. None of the above 2. At the end of the year, a company has the following balances: Current Assets = $55,000; Non-current Assets = $145,000; Current Liabilities = $40,000. Assume no stock transactions. If non-current liabilities = $35,000, what is the end of the year shareholder’s equity balance? a. $200,000 b. $165,000 c. $125,000 d. Cannot be calculated with the information provided e. none of the above 3. At the end of the year, a company has the following balances: Current Assets = $55,000; Non-current Assets = $145,000; Current Liabilities = $40,000. Assume no stock transactions. If the company earned $15,000 net income for the year and paid $5,000 in dividends, how much was beginning shareholder’s equity? a. $135,000 b. $115,000 c. $105,000 d. Cannot be calculated with the information provided e. none of the above 4. At the end of the year, a company has the following balances: Current Assets = $65,000; Non-current Assets = $145,000; Current Liabilities = $50,000. Assume no stock transactions. What is the amount of total liabilities and equities? a.
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This note was uploaded on 03/12/2010 for the course ACCY 201 taught by Professor Susancurtis during the Fall '09 term at University of Illinois, Urbana Champaign.

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201 FS 5 - 201 Articulation 1 At the end of the year a company has the following balances Current Assets = $55,000 Non-current Assets = $145,000

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