Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The account balances for HydroTech as of May 31, 2001, are listed below in random order: Accounts Payable: $10,000 Accounts Receivable: $12,000 Building: $40,000 Cash:

The account balances for HydroTech as of May 31, 2001, are listed below in random order:

Accounts Payable: $10,000

Accounts Receivable: $12,000

Building: $40,000

Cash: $6,000

Equipment: $16,000

Land: $50,000

Notes Payable: $28,000

Capital Stock: $86,000

On June 3, HydroTech collected $7,000 of its accounts receivable and paid $4,000 of its accounts payable. In addition, $2,400 of additional stock was issued for cash. On June 4, another $3,000 of stock was issued for cash. Refer to the above data. On June 5, the balance in the Capital Stock Account is:

Question 7 options:

$79,000

Some other amount

$81,400

$91,400

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Construction Safety Auditing Made Easy A Checklist Approach To OSHA Compliance

Authors: Kathleen Hess

1st Edition

0865876355, 978-0865876354

More Books

Students also viewed these Accounting questions