Question
The following information is provided for Guci Corporation before closing entries. Cash $ 12,000 Supplies 4,500 Prepaid rent 2,000 Salaries expense 4,500 Equipment 65,000 Service
The following information is provided for Guci Corporation before closing entries.
| Cash | $ | 12,000 | |
| Supplies | 4,500 | ||
| Prepaid rent | 2,000 | ||
| Salaries expense | 4,500 | ||
| Equipment | 65,000 | ||
| Service revenue | 30,000 | ||
| Miscellaneous expenses | 20,000 | ||
| Dividends | 3,000 | ||
| Accounts payable | 5,000 | ||
| Common stock | 68,000 | ||
| Retained earnings | 8,000 | ||
What is the amount of total shareholders equity?
Multiple Choice
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$5,000.
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$83,500.
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$68,500.
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$78,500.
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Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
5th edition
9780470418239, 470239808, 9780470239803, 470418230, 978-1118128169
