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The following account balances were drawn from the Year 1 financial statements of Grayson Company: Cash $4,800 Accounts payable $1,450 Accounts receivable $1,900 Common stock
The following account balances were drawn from the Year 1 financial statements of Grayson Company:
| Cash | $4,800 | Accounts payable | $1,450 |
|---|---|---|---|
| Accounts receivable | $1,900 | Common stock | ? |
| Land | $8,400 | Retained earnings, January 1 | $3,100 |
| Revenue | $9,900 | ||
| Expenses | $7,450 |
What is the balance of the Common Stock account?
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The Principals Guide To School Budgeting
Authors: Richard D. Sorenson, Lloyd M. Goldsmith
3rd Edition
1506389457, 978-1506389455
