The following are a selection of account balances taken from the Adjusted Trial Balance of Cajon Corporation for December 31, 2012:

- Refer to Exhibit 4-1. Given the information above, what is the amount of total liabilities and owner's equity on Cajon Corporation's balance sheet in 2012?

Question

The following are a selection of account balances taken from the Adjusted Trial Balance of Cajon Corporation for December 31, 2012:

- Refer to Exhibit 4-1. Given the information above, what is the amount of total liabilities and owner's equity on Cajon Corporation's balance sheet in 2012?

Quizplus · Accepted Answer

To find the total liabilities and owner's equity, we need to add the two categories together. The sum of current liabilities ($100), long-term liabilities ($50), and owner's equity ($300) is $450. Therefore, the correct answer is D.

The Following Are a Selection of Account Balances Taken from the Adjusted