1 the following amounts were reported for pacific, Ask an Expert

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1. The following amounts were reported for Pacific Corporation at the end of their first year of operations: contributed capital $100,000; sales revenue $400,000; total assets $300,000; $20,000 dividends declared; and total liabilities $160,000. What are total expenses for Pacific Corp.’s first year of operations?

A. $400,000.

B. $380,000.

C. $340,000.

D. $60,000.

2. A series of equal cash flows at fixed intervals is termed a(n)

price-level index

present value index

net cash flow

annuity

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M92022569

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