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24 April, 08:08

Golden Company had the following accounts and balances at the end of the year. What are total assets at the end of the year? Cash $75,000Accounts Payable $14,000Common Stock $21,000Cost of Goods Sold $95,000Dividends Declared and Paid $12,000Operating Expenses $12,000Accounts Receivable $55,000Inventory $42,000Long-term Notes Payable $33,000Revenues $130,000Salaries Payable $28,000A) $75,000B) $117,000C) $130,000D) $172,000

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  1. 24 April, 08:24
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    Answer: Total assets are $172000

    Explanation:

    Extracts from Statement of financial position:

    Non current assets: -

    current assets:

    inventory $42000

    account receivable. $55000

    cash. $75000

    Total assets. $172000
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