Jesse and Mason Fabricating, Inc. general ledger has the following account balances at the end of the year:What is the total ending balance as reported on the company’s Statement of Stockholder’s Equity? Cash9,0005,0007,0002,0004,0005,0004,0006,000Common stockAccounts receivableAccounts payableAdditional paid-in capitalPrepaid insuranceUnearned revenueRetained earnings

Stockholders' equity includes capital balance, paid-in capital, and retained earning but the…

Answered: 9,000 5,000 7,000 2,000 4,000 5,000…

9,000 5,000 7,000 2,000 4,000 5,000 4,000 6,000 Cash Common stock Accounts receivable Accounts payable Additional paid-in capital Prepaid insurance Unearned revenue Retained earnings

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.

Question

Jesse and Mason Fabricating, Inc. general ledger has the following account balances at the end of the year:

What is the total ending balance as reported on the company’s Statement of Stockholder’s Equity?

Cash
9,000
5,000
7,000
2,000
4,000
5,000
4,000
6,000
Common stock
Accounts receivable
Accounts payable
Additional paid-in capital
Prepaid insurance
Unearned revenue
Retained earnings

Definition Definition Assets available to stockholders after a company's liabilities are paid off. Stockholders’ equity is also sometimes referred to as owner's equity. A stockholders’ equity or book value generally includes common stock, preferred stock, and retained earnings and is an indicator of a company's financial strength.

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