bvolleyball9
14.03.2020 •
Business
At the beginning of the year, Execon Company had total assets of $200,000, total liabilities of $110,000, and shareholders' equity of $90,000. For the year, Execon Company earned net income of $75,000 and declared cash dividends of $30,000. At the end of the year, the company had total assets of $300,000 and its shareholders' equity was at $135,000. At the end of the year, Execon Corporation had total liabilities of:
a.
$0.
b.
$45,000.
c.
$50,000.
d.
$165,000.
e.
None of the answers are correct.
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Ответ:
$50000
Explanation:
Based on the information that's been given in the question, firstly we need to calculate the excess reserves which will be:
= $4500 - (10% × $40000)
= $4500 - $4000
= $500
Then, the money supply that's expanded will be:
= Excess reserve / Reserve ratio
= $5000 / 10%
= $5000 / 0.1
= $50000
Therefore, the answer is $50,000.