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A firm has common stock of $11,500, paid-in capital surplus of $15,000, total liabilities of $28,100, current assets of $17,500, and fixed assets of $52,300. What is the amount of shareholders' equity? $38,500 $41,000 $41,700 $23,600

A firm has common stock of $11,500, paid-in capital surplus of $15,000, total liabilities of $28,100, current assets of $17,500, and fixed assets of $52,300. What is the amount of shareholders' equity? $38,500 $41,000 $41,700 $23,600

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 firm has common stock of $11,500, paid-in capital surplus of $15,000, total liabilities of $28,100, current assets of $17,500, and fixed assets of $52,300. What is the amount of shareholders' equity? $38,500 $41,000 $41,700 $23,600
Transcribed Image Text:A firm has common stock of $11,500, paid-in capital surplus of $15,000, total liabilities of $28,100, current assets of $17,500, and fixed assets of $52,300. What is the amount of shareholders' equity? $38,500 $41,000 $41,700 $23,600
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