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If liabilities are $53,000 and assets are $173,500, then equity equals: Multiple Choice $120,500 $173,500 $226,500 $53,000 If the liabilities of a business increased $83,000 during a period of time and the equity in the business decreased $34,000 during the same period, the assets of the business must have: Multiple Choice Decreased $117,000 Decreased $49,000 Increased $49,000 Beta Corporation purchased $160,000 worth of land by paying 16,000 cash and signing a $144,000 mortgage. Immediately prior to this transaction the corporation had assets, liabilities, and owners' equity in the amounts of $156,000, $33,000, and $123,000 respectively. What is the total amount of Beta Corporation's assets after this transaction has been recorded? Multiple Choice $316,000 $332,000 $49,000 $172,000 $300,000 FastForward has net income of $19,150 and assets at the beginning of the year of $213,000. Its assets at the end of the year total $272,000. Compute its return on assets. Multiple Choice 7.9% 14.2% 8.9% 12.7% 7.0% Determine the net income of a company for which the following information is available: Employee salaries expense Interest expense Rent expense Consulting revenue $ 197,000 27,000 37,000 570,000 $831,000 $298,000 $261,000 $570,000 $309,000 FastForward had cash inflows from operations of $64,100; cash outflows from investing activities of $48,600; and cash inflows from financing of $26,600. The net change in cash was: Multiple Choice $139,300 increase $11,100 increase $42.100 decrease $42,100 increase $139,300 decrease FastForward has beginning equity of $258,000, net income of $51100, dividends of $40,500, and investments by owners in exchange for stock of $6,100. Its ending equity is: Multiple Choice $268,600 $241,300 $274,700 $223,600 $211,400 A company's balance sheet shows: cash $23,600, accounts receivable $16,800, office equipment $52,000, and accounts payable $17,800. What is the amount of equity? Multiple Choice $110,200 $29,400 $17,800 $74,600 $92,400 If beginning retained earnings was $184,900, net income for the period was $202,000 and ending retained earnings was $323,000, what was the total amount of dividend distributed for the period? Multiple Choice $305,900 $340,100 $63,900 $138,100 $709,900 Ending liabilities are 68,900, beginning equity was $90,700, common stock issued during year totaled $32,900, expenses for the year were $23,900, dividends declared totaled $14,900, ending equity for the year is $185,750, and beginning assets for the year were $225,800. What are the ending assets for the year? Multiple Choice $159,600 $155,000 $137,800 $218,650 $254,650

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