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At December 31, 2009, the Accounting Records of Braun Corporation

Question 87

Multiple Choice

At December 31, 2009, the accounting records of Braun Corporation contain the following items:
 Accounts Payable $16,000 Accounts Receivable $400,000 Land $240,000 Cash ? Share capital ? Equipment $120,000 Building $180,000 Notes Payable $190,000 Retained Earnings $160,000\begin{array} { l r l r } \text { Accounts Payable } & \$ 16,000 & \text { Accounts Receivable } & \$ 400,000 \\\text { Land } & \$ 240,000 & \text { Cash } & ? \\\text { Share capital } & ? & \text { Equipment } & \$ 120,000 \\\text { Building } & \$ 180,000 & \text { Notes Payable } & \$ 190,000 \\\text { Retained Earnings } & \$ 160,000 & &\end{array}
-Refer to the above data. If Cash at December 31, 2009, is $66,000, total assets amount to:


A) $606,000.
B) $806,000.
C) $662,000.
D) $646,000.

Correct Answer:

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