Question
Marvin Services Corporation had the following accounts and balances: Accounts payable $6,000 Equipment $7,000 Accounts receivable 1,000 Land 7,000 Building ? Notes Payable 2,000 Cash
Marvin Services Corporation had the following accounts and balances:
Accounts payable | $6,000 | Equipment | $7,000 |
Accounts receivable | 1,000 | Land | 7,000 |
Building | ? | Notes Payable | 2,000 |
Cash | 3,000 | Total stockholder's equity | ? |
If the balance of the Building account was $14,000 and $3,000 of Accounts Payable were paid in cash, what would be the balance of the total stockholder's equity?
If the balance of the Building account was $8,000 and $2,000 of Accounts Payable were paid in cash, what would be the total liabilities and stockholders' equity?
If total stockholder's equity was $19,000, what would be the balance of the Building Account?
If the balance of the Building account was $15,000 and the equipment was sold for $7,000, what would be the total of stockholders' equity?
If the balance of the Building account was $17,000, what would be the total of liabilities and stockholders' equity?
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