24. Olmsted Company has the following items: common stock, $950,000; treasury stock, $105,000; deferred income taxes, $125,000 and retained earnings, $454,000. What total amount should Olmsted Company report as stockholders' equity? A) $1,174,000. B) $1,299,000. C) $1,424,000. D) $1,549,000. 25. The following accounts were abstracted from Starr Co.'s unadjusted trial balance on December 31, 2021: Accounts receivable Allowance for uncollectible accounts Net credit sales Debit $750,000 Credit 8,000 $3,000,000 Starr estimates that 6% of the gross accounts receivable will become uncollectible. After adjustment on December 31, 2021, the allowance for uncollectible accounts should have a credit balance of A) $180,000. B) $53,000. C) $172,000. D) $45,000. 26. Sun Inc. factors $6,000,000 of its accounts receivables with recourse for a finance charge of 3%. The finance company retains an amount equal to 10% of the accounts receivable for possible adjustments. Sun estimates the fair value of the recourse liability at $300,000. What would be recorded as a gain (loss) on the transfer of receivables? Gain of $180,000. A) B) Loss of $480,000. C) Gain of $1,080,000. D) Loss of $300,000. Cash in bank Petty cash 27. Steinert Company has the following items at year-end: Short-term paper with maturity of 2 months $45,000 500 8,200 Postdated checks 2,100 Steinert should report cash and cash equivalents of A) $45,000. B) $45,500. C) $53,700. D) $55,800.