Carbon Company's accounting records provided the following information (all amounts in thousands of dollars):

All assets and liabilities of the firm are reported in the schedule above. Working capital of $92 remained unchanged from 2010 to 2011. Net income in 2011 was $64. No dividends were declared during 2011 and there were no other changes in owners' equity. Total long-term liabilities at the end of 2011 would be
A) $340.
B) $432.
C) $580.
D) $616.

Question

Carbon Company's accounting records provided the following information (all amounts in thousands of dollars):

All assets and liabilities of the firm are reported in the schedule above. Working capital of $92 remained unchanged from 2010 to 2011. Net income in 2011 was $64. No dividends were declared during 2011 and there were no other changes in owners' equity. Total long-term liabilities at the end of 2011 would be
A) $340. 
B) $432. 
C) $580. 
D) $616.

Quizplus · Accepted Answer

The Answer of Carbon Company's accounting records provided the following information (all amounts in thousands of dollars):

All assets and liabilities of the firm are reported in the schedule above. Working capital of $92 remained unchanged from 2010 to 2011. Net income in 2011 was $64. No dividends were declared during 2011 and there were no other changes in owners' equity. Total long-term liabilities at the end of 2011 would be
A) $340. 
B) $432. 
C) $580. 
D) $616.

Carbon Company's Accounting Records Provided the Following Information (All Amounts