86.) | Liabilities on December 31,2019 | ||
Accounts payable | $ 122,000 | ||
Correct answer is option 3 . | |||
87.) | Total Stockholder's Equity | ||
Amount $ | |||
Common Stock | 1,000,000 | ||
Add :Opening Retained earnings | 300,000 | ||
Add: Net income | 555,500 | (2,632,000 - 1,317,000 - 129,500 - 630,000 ) | |
Less: Dividends paid | 200,000 | ||
Total Stockholder's Equity | 1,655,500 | ||
on December 31,2019 | |||
Correct answer is option 2 . | |||
88.) | Total Liabilties & Stockholder's Equity | $ 1,777,500 | (122,000 + 1,655,500 ) |
on December 31,2019 | |||
Correct answer is option 3 . |
89.) | Yes, another company would pay $313,500 for these receivables. |
Correct answer is option 1 . | |
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