On July 1, 2021, the assets and liabilities of Lui Company are as follows: Cash, $96,000; Accounts Receivable, $75,800; Prepaid Rent, $12,000; Land, $318,000; Accounts Payable, $58,700; Mortgage Payable, $162,000. What is the amount of stockholders’ equity as ofbJuly 1, 2020?   722,500 281,100 296,100 assuming that 15,000 of dividends were paid 125,100

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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On July 1, 2021, the assets and liabilities of Lui Company are as follows: Cash, $96,000; Accounts Receivable, $75,800; Prepaid Rent, $12,000; Land, $318,000; Accounts Payable, $58,700; Mortgage Payable, $162,000. What is the amount of stockholders’ equity as ofbJuly 1, 2020?

 

  1. 722,500
  2. 281,100
  3. 296,100 assuming that 15,000 of dividends were paid
  4. 125,100
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