Question

Score: 0 of 5 pts 2.4-13a The following are the current month's balances for ABC Financial Services, Inc. before preparing the trial balance. Accounts Payable Revenue Cash Expenses Furniture Accounts Receivable Common Stock Notes Payable $6,000 5,000 3,000 15,500 10,000 12,000 7,500 What amount should be shown for Common Stock on the trial balance? O A. $22,000 O B. $13,500 OC. $25,000 OD. $45,000

Answer 1

Answer
The correct option is A : $ 22,000
Explanation
Calculate common stock :
Cash	$       3,000
Account receivable	$     12,000
Furniture	$     10,000
Total assets	$     25,000
Account payable	-$       6,000
Notes payable	-$       7,500
Retained earnings (5000-15500)	-$     10,500
Common stock	$     22,000

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