5 The following information is provided for Sacks Company before closing entries. Cash $ 12,900 Supplies 5,400 Prepaid rent 2,900 Salaries expense 5,400 01:50:35 Equipment 65,900 Service revenue 33,600 Miscellaneous expenses 20,900 Dividends 3,900 Accounts payable 5,900 Common stock 68,900 Retained earnings 8,900 What is the amount of total shareholders' equity? Multiple Choice O $87,100 $69,400 $5,900 $81,200

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
icon
Related questions
Question
None
5
The following information is provided for Sacks Company before closing entries.
Cash
$ 12,900
Supplies
5,400
Prepaid rent
2,900
Salaries expense
5,400
01:50:35
Equipment
65,900
Service revenue
33,600
Miscellaneous expenses
20,900
Dividends
3,900
Accounts payable
5,900
Common stock
68,900
Retained earnings
8,900
What is the amount of total shareholders' equity?
Multiple Choice
O
$87,100
$69,400
$5,900
$81,200
Transcribed Image Text:5 The following information is provided for Sacks Company before closing entries. Cash $ 12,900 Supplies 5,400 Prepaid rent 2,900 Salaries expense 5,400 01:50:35 Equipment 65,900 Service revenue 33,600 Miscellaneous expenses 20,900 Dividends 3,900 Accounts payable 5,900 Common stock 68,900 Retained earnings 8,900 What is the amount of total shareholders' equity? Multiple Choice O $87,100 $69,400 $5,900 $81,200
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Recommended textbooks for you
ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:
9780190931919
Author:
NEWNAN
Publisher:
Oxford University Press
Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education