Solution:
Ending balance of retained earnings = 5400 +19000 -14500 = $9,900
Balnce of common stock = Total assets - Retained earnings - liabilities
= (8800+3000+16000) - 9900 - 2500
= $15,400
Hence first option is correct.
The following account balances were drawn from the Year 1 financial statements of Grayson Company: $...
The following account balances were drawn from the financial statements of Grayson Company 3 $1,450 Cash Accounts receivable Land $4,800 $1,900 $8,400 Accounts payable Common stock Retained earnings, Jan. 1 Revenue Expenses $3,100 $9,900 $7,450 Ask Print Based on the above information, what is the balance of Common Stock for Grayson Company? Multiple Choice $8,100 $10.550 $650 $10,800
TB MC Qu. 02-34 The following account balances were drawn... 9 The following account balances were drawn from the Year 1 financial statements of Grayson Company: $ 1,950 points Cash Accounts receivable Land ( 8 01:30:50 $5,800 Accounts payable $2,900 Common stock $9,400 Retained earnings, Jan. 1 Revenue Expenses $ 4,100 $10,900 $ 7,950 What is the balance of the Common Stock account? Multiple Choice O $12,050 $9,100
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Required information The following account balances were drawn from the 2011 financial statements of Gwynn Company Cash $2,250 Supplies $550 A/ R 1 ,000 Common Stock I 2,940 Land 1,100 Retained earnings 5,550 Revenues, Expenses 2,680 Based on the above information, what is the balance of Common Stock for Gwynn Company? At the end of 2011, retained earnings for the Bisk Company was $3,450. Revenue earned by the company in 2011 was $2,235, expenses paid during the period were $1,105,...
Comet Company accumulated the following account information for the year. Beginning raw materials inventory Indirect materials cost Indirect labor cost Maintenance of factory equipment Direct labor cost $6,500 2,500 5,500 3,300 7,500 Using the above information, total factory overhead costs would be: Multiple Choice ο $17,300. ο $14,500. ο $18,800. ο $11,300. Prev 20 at 20
uiz Saved Help Save & Exit The following pre-closing accounts and balances were drawn from the records of Carolina Company on December 31, Year 1: Cash Dividends Land Accounts payable $4,000 $2,000 $3,200 $1,800 Accounts receivable Common stock Revenue Expense $3,400 $3,900 $3,200 $2,200 Total assets on Carolina's December 31, Year 1 balance sheet would amount to: Multiple Choice $12,600 $13,800 $7.200. $10,600
The following pre-closing accounts and balances were drawn from the records of Carolina Company on December 31, Year 2: Cash Dividends Land Accounts payable $ 4,000 Accounts receivable 2,000 Common stock 3,200 Revenue 1,800 Expense $ 3,400 3,900 3,200 2,200 What is the amount of retained earnings that will be shown on the balance sheet at December 31, Year 2? Multiple Choice O $5,900 O $7,200 O O $3,900 O $4,900
The following pre-closing accounts and balances were drawn from the records of Carolina Company on December 31, Year 1: Cash Dividends Land Accounts payable $ 1,600 Accounts receivable 800 Common stock 1,100 Revenue 600 Expense $ 1,000 1,275 1,100 700 What is net income that will be shown on Carolina's Year 1 income statement? Multiple Choice $400 Multiple Choice $400 $700 $200 $1,100
The following accounts and balances were drawn from the records of Hoover Company on December 31, 2013 Cash $1,150 $2200 Accounts Receivable 1.100 Common Stock 1,400 Revenue 750 | Expense Dividends Land Accounts Payable 1,575 1.400 850 The amount of retained earnings as of January 1, 2014 was. Multiple Choice $2.975 $2.425