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What are aquas total liabilities at the end of the year

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Reference no: EM132472063

Question 1: Given the following data, what is the balance in the common stock account?

Total assets                        $704756

Total liabilities                       287088

Retained Earnings, beginning       65021

Dividends declared                    39353

Revenues                               288692

Expenses                                180661

Select one:

a. $352647

b. $417668

c. $283969

d. $392000

Question 2: Aqua Inc. had assets and liabilities at the beginning of the year of $503223 and $344606, respectively. Aqua's net income for the year was $169283 and dividends were $54041. The assets increased by $47571 during the year. What are Aqua's total liabilities at the end of the year?

Select one:

a. $229364

b. $276935

c. $338136

d. $175323

Question 3: On November 15, 20x2, Trink Ltd. paid $6338 to settle an account payable resulting from the purchase of goods on account in October 20x2. What is the effect of this business transaction on the accounting equation of Trink?

Select one:

a. Assets decrease $6338, liabilities do not change, and equity decreases $6338

b. Assets decrease $6338, liabilities decrease $6338, and equity decreases $6338

c. Assets increase $6338, liabilities increase $6338, and equity does not change

d. Assets decrease $6338, liabilities decrease $6338, and equity does not change

Reference no: EM132472063

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