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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.

FINANCIAL ACCOUNTING
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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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.
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