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 2012 to 2013.Net income in 2011 was $64.No dividends were declared during 2013 and there were no other changes in owners' equity.Total long-term liabilities at the end of 2013 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 2012 to 2013.Net income in 2011 was $64.No dividends were declared during 2013 and there were no other changes in owners' equity.Total long-term liabilities at the end of 2013 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 2012 to 2013.Net income in 2011 was $64.No dividends were declared during 2013 and there were no other changes in owners' equity.Total long-term liabilities at the end of 2013 would be
A)$340. 
B)$432. 
C)$580. 
D)$616.

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