Homework Answers
1. Answer is Option A : $ 83,200
Explanation;
Asset = Liabilities + Stockholders Equity
$192,000 = ($65,600 + $29,600) + $13,600
$192,000 = $ 108,800
$192,000 - $108,800 = $ 83,200
Note Payable is equal to $83,200
2. Answer is Option D : $ 28,400
Explanation;
Ending Cash = Beginning Cash + Cash Provided by Operating Activities - Cash Provided by investing Activities by Investing Activities - Cash Provided by Financing Activities.
= $17,500 + $ 18,400 - $6,500 -$1,000
= $ 28,400
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