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What are the explanations for the answers to these questions? 23) c 24) b 23. Marvin Services Corporation had the following accounts and balances: $20

What are the explanations for the answers to these questions?

23) c

24) bimage text in transcribed

23. Marvin Services Corporation had the following accounts and balances: $20 Accounts payable Accounts receivable $18 Equipment 3 Land 1 6 Buildings Cash ? Unearned service revenue 9 Total stockholders' equity ? If the balance of the Buildings account was $7 and $3 of Accounts Payable were paid in cash, what would be the balance of the total stockholders' equity? a. $22 b. $6 c. $16 d. $10 24. For 2017 Kuhl Corporation reported net income of $28; average common shares issued 16; 1 treasury share, and 5 preferred shares. Preferred shares received a total $3 of dividends. What was Kuhl's basic earnings per share in 2017 (rounded)? a. $1.40 b. $1.67 C. $1.81 d. $1.25

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