The West Company has assets of $230,000 at the beginning of June. During the month, it received

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Question:

The West Company has assets of $230,000 at the beginning of June. During the month, it received $88,000 cash and billed customers $36,000 for services performed, purchases $16,000 of equipment on account, and paid employees $4,000 in wages. What is the amount of total assets at the end of June?

Question 21 options:

$322,000

$338,000

$342,000

$366,000

Financial leverage occurs when

Question 19 options:

	A company holds a large amount of current assets.
	Owners are able to earn a return on the creditor's investment.
	Debt is not used to finance the assets of a company.
	Sales have increased since last year.