The following information was taken from the financial statements of the Billeri
ID: 2431182 • Letter: T
Question
The following information was taken from the financial statements of the Billerica Corporation. All dollar amounts are in millions!
$11,900
$1,800
$570
$9,000
$7,400
$1,770
$10,500
Determine the dollar amount of the Corporation's resources that had been borrowed as of December 31, 2000.
$4,500
$1,500
$2,700
$7,400
Assets, 12/31/00$11,900
Common Stock, 12/31/00$1,800
Dividends, 1/1/00-12/31/00$570
Expenses, 1/1/00-12/31/00$9,000
Liabilities, 12/31/00$7,400
Retained Earnings, 1/1/00$1,770
Revenues 1/1/00-12/31/00$10,500
Explanation / Answer
Solution:
dollar amount of the Corporation's resources that had been borrowed as of December 31, 2000 = Liabilities as on December 31, 2000 = $7,400
Hence option d is correct.
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