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Using the Information Below from the Accounting Records of Thomas

Question 30

Multiple Choice

Using the information below from the accounting records of Thomas Corporation,owners' claims to the company's resources amount to:  Assets $1,200,000 Liabilities $$00,000 Net incorne $100,000 Retained earmings $250,000\begin{array} { l r } \text { Assets } & \$ 1,200,000 \\\text { Liabilities } & \$ \$ 00,000 \\\text { Net incorne } & \$ 100,000 \\\text { Retained earmings } & \$ 250,000\end{array}


A) $1,200,000.
B) $800,000.
C) $250,000.
D) $400,000.

Correct Answer:

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