a.

b. c. d.

At December 31, Year 1, the accounting records of Braun Corporation contain the following items: Accounts Payable Land Capital Stock Building Retained Earnings $ 15,500 $ 239,000 ? $ 179,000 $ 159,000 Accounts Receivable Cash Equipment Notes Payable $ 39,000 ? $ 119,000 $ 189,000 If Cash at December 31, Year 1, is $85,000, Capital Stock is: Multiple Choice $258,500. $297,500. $615,500. $167,000. At December 31, Year 1, the accounting records of Braun Corporation contain the following items: Accounts Payable Land Capital Stock Building Retained Earnings $ 18,000 $ 244,000 ? $ 184,000 $ 164,000 Accounts Receivable Cash Equipment Notes Payable $ 44,000 ? $ 124,000 $ 194,000 If Cash at December 31, Year 1, is $30,000, total owners' equity is: Multiple Choice $376,000. $626,000. $164,000. $414,000. At December 31, Year 1, the accounting records of Braun Corporation contain the following items: Accounts Payable Land Capital Stock Building Retained Earnings $ 14,500 $ 237,000 ? $ 177,000 $ 157,000 Accounts Receivable Cash Equipment Notes Payable $ 37,000 ? $ 117,000 $ 187,000 If Cash at December 31, Year 1, is $63,000, total assets amounts to: Multiple Choice $788,000. $645,500. $631,000. $594,000. The matching principle: Multiple Choice Applies only to situations in which a cash receipt occurs before revenue is recognized. Is used in accrual accounting to determine the proper period in which to recognize revenue. Is used in accrual accounting to determine the proper period for recognition of expenses. Applies only to situations in which a cash payment occurs before an expense is recognized