Multiple Choice
Shareholders' equity for Raisin Corporation on January 1, 2020 and December 31, 2020 were $60,000 and $75,000, respectively. Assets on January 1, 2020 and December 31, 2020 were $115,000
And $105,000, respectively. Liabilities on January 1, 2020 were $55,000. What is the amount of liabilities on December 31, 2020?
A) $30,000
B) $55,000
C) $15,000
D) $40,000
Correct Answer:
Verified
Correct Answer:
Verified
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