A company's January 1, 2019 balance sheet reported total assets of $129,000 and total liabilities of $31,000. During January 2019, the following transactions occurred: (A) the company issued stock and collected cash totaling $39,000; (B) the company paid an account payable of $6,900; (C) the company purchased supplies for $1,900 with cash; (D) the company purchased land for $51,000, paying $19,000 with cash and signing a note payable for the balance. What is total stockholders' equity after the transactions above? Multiple Choice $98,000. $137,000. $39,000. $211,100.
A company's January 1, 2019 balance sheet reported total assets of $129,000 and total liabilities of $31,000. During January 2019, the following transactions occurred: (A) the company issued stock and collected cash totaling $39,000; (B) the company paid an account payable of $6,900; (C) the company purchased supplies for $1,900 with cash; (D) the company purchased land for $51,000, paying $19,000 with cash and signing a note payable for the balance. What is total stockholders' equity after the transactions above? Multiple Choice $98,000. $137,000. $39,000. $211,100.
A company's January 1, 2019 balance sheet reported total assets of $129,000 and total liabilities of $31,000. During January 2019, the following transactions occurred: (A) the company issued stock and collected cash totaling $39,000; (B) the company paid an account payable of $6,900; (C) the company purchased supplies for $1,900 with cash; (D) the company purchased land for $51,000, paying $19,000 with cash and signing a note payable for the balance. What is total stockholders' equity after the transactions above? Multiple Choice $98,000. $137,000. $39,000. $211,100.
A company's January 1, 2019 balance sheet reported total assets of $129,000 and total liabilities of $31,000. During January 2019, the following transactions occurred: (A) the company issued stock and collected cash totaling $39,000; (B) the company paid an account payable of $6,900; (C) the company purchased supplies for $1,900 with cash; (D) the company purchased land for $51,000, paying $19,000 with cash and signing a note payable for the balance. What is total stockholders' equity after the transactions above?
Multiple Choice
$98,000.
$137,000.
$39,000.
$211,100.
Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.
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