Question
A companys financial records at the end of the year included the following amounts: Cash $ 70,000 Accounts Receivable 28,000 Supplies 4,000 Accounts Payable 10,000
A companys financial records at the end of the year included the following amounts:
| Cash | $ | 70,000 | |
| Accounts Receivable | 28,000 | ||
| Supplies | 4,000 | ||
| Accounts Payable | 10,000 | ||
| Notes Payable | 5,000 | ||
| Retained Earnings, beginning of year | 17,000 | ||
| Common Stock | 40,000 | ||
| Service Revenue | 53,000 | ||
| Wages Expense | 8,000 | ||
| Advertising Expense | 5,000 | ||
| Rent Expense | 10,000 | ||
What is the amount of total stockholders' equity that would be reported on the Balance Sheet at the end of the year?
Multiple Choice
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$30,000
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$57,000
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$87,000
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$102,000
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Frank Woods Business Accounting Volume 2
Authors: Frank Wood, Ph.D. Sangster, Alan
12th Edition
0273767925, 9780273767923
