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A firm has common stock of $7,500, paid-in surplus of $10,300, total liabilities of $9,500, current assets of $6,700, and fixed assets of $22,800. What is the amount of the shareholders' equity? A) $7,200 B) $16,000 C) $20,000 D) $28,600 E) $39,200

A firm has common stock of $7,500, paid-in surplus of $10,300, total liabilities of $9,500, current assets of $6,700, and fixed assets of $22,800. What is the amount of the shareholders' equity? A) $7,200 B) $16,000 C) $20,000 D) $28,600 E) $39,200

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter1: The Role Of Accounting In Business
Section: Chapter Questions
Problem 4SEQ: If total assets are $20,000 and total liabilities are $12,000, the amount of stockholders’ equity...
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Shareholders equity? Accounting

A firm has common stock of $7,500, paid-in surplus of $10,300, total liabilities of $9,500, current assets of $6,700, and fixed assets of $22,800. What is the amount of the shareholders' equity? A) $7,200 B) $16,000 C) $20,000 D) $28,600 E) $39,200
Transcribed Image Text:A firm has common stock of $7,500, paid-in surplus of $10,300, total liabilities of $9,500, current assets of $6,700, and fixed assets of $22,800. What is the amount of the shareholders' equity? A) $7,200 B) $16,000 C) $20,000 D) $28,600 E) $39,200
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