accounting 454222
Aug 29, 2021 | Uncategorized
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At the beginning of April, Warren Corporation’s assets totaled $247,000 and liabilities totaled $67,000. During April the following summarized transactions occurred:
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| Additional shares of stock were sold for $23,500 cash. |
| A building costing $102,000 was purchased using $13,500 cash and by signing an $88,500 long term note payable. |
| Short term investments costing $9,700 were purchased using cash. |
| $10,700 was lent to an employee; the employee signed a six month note in exchange for the loan. |
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| How much are Warren’s total assets at the end of April? |
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$382,200 |
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$256,700 |
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$359,000 |
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$257,000 |
