US, INC BALANCE SHEET Assets $1 568 00 Ins entorie Property, Plant&Equupne Oher

Question

US, INC BALANCE SHEET Assets $1 568 00 Ins entorie Property, Plant&Equupne Oher Assets Total Assets 110 500 08.200 391,600 3347.200 Liabilities Accounts Payable S1439.200 Notes Pavable Total Liabilities Stockholders' Equity Contributed Capetal Retained Earnings Total Stockhelders' Equity 1.263,600 207.100 47 .200 Total Liabilities& Stockholders' Equity 370 11. What is the missing amount for Total Liabilities? A. $3,347,700 B. $1,439,200 C. $1,470,700 D. $1,877,000 12. How many of the following statements regarding the balance sheet for Anonymous Inc The $207,100 shown on the balance sheet has been distributed to stockholders as divide Retained Earnings is misclassified. It should be reported as an Asset Anonymous, Inc., is owed $310,500 from customers who have purchased goods or ser company, but have not yet paid for them. A. None B. One C. Two D. Three

Explanation / Answer

11. Missing amount of total liabilities: 3347700 - 1470700 - 1439200 = $437,800.

12. The following option is correct:

B. One

Anonymous, Inc., is owed $310,500 from customers who have purchased goods or services.

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