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A company's January 1, 2014 balance sheet reported total assets of $135,000 and total liabilities of $45,000. During January 2014, the following transactions occurred: (A)
A company's January 1, 2014 balance sheet reported total assets of $135,000 and total liabilities of $45,000. During January 2014, the following transactions occurred: (A) the company issued stock and collected cash totaling $45,000; (B) the company paid an account payable of $7,500; (C) the company purchased supplies for $3,500 with cash; (D) the company purchased land for $65,000 paying $25,000 with cash and signing a note payable for the balance. What is total stockholders' equity after the transactions above?
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