Homework Answers
| 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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