Question
A company has the following accounts and account balances at the end of its first year: Accounts payable, $3,000 Cash, $19,000 Common stock, Not given
A company has the following accounts and account balances at the end of its first year:
Accounts payable, $3,000
Cash, $19,000
Common stock, Not given
Dividends, $1,000
Expenses, $14,000
Notes payable, $4,000
Prepaid insurance, $3,000
Revenues, $23,000
What is the balance of its common stock account at the end of the first year?
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Financial Accounting in an Economic Context
Authors: Jamie Pratt
10th edition
978-1-119-3061, 1119306167, 978-1119444367
