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The following are the current month's balances for ABC Financial Services, Inc. before preparing the trial balanc Accounts Payable Revenue Cash Expenses Furniture $5,000 6,000 4,000 18,500 12,000 Accounts Receivable 11,000 Common Stock ? Notes Payable 6,500 What amount should be shown for Common Stock on the trial balance? OA. $27,000 OB. $28,000 OC. $53,000 OD. $11,500

The following are the current month's balances for ABC Financial Services, Inc. before preparing the trial balanc Accounts Payable Revenue Cash Expenses Furniture $5,000 6,000 4,000 18,500 12,000 Accounts Receivable 11,000 Common Stock ? Notes Payable 6,500 What amount should be shown for Common Stock on the trial balance? OA. $27,000 OB. $28,000 OC. $53,000 OD. $11,500

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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The following are the current month's balances for ABC Financial Services, Inc. before preparing the trial balance. Accounts Payable Revenue Cash $5,000 6,000 4,000 18,500 12,000 11,000 Expenses Furniture Accounts Receivable Common Stock ? Notes Payable 6,500 What amount should be shown for Common Stock on the trial balance? OA. $27,000 OB. $28,000 OC. $53,000 OD. $11,500 GETTE
Transcribed Image Text:The following are the current month's balances for ABC Financial Services, Inc. before preparing the trial balance. Accounts Payable Revenue Cash $5,000 6,000 4,000 18,500 12,000 11,000 Expenses Furniture Accounts Receivable Common Stock ? Notes Payable 6,500 What amount should be shown for Common Stock on the trial balance? OA. $27,000 OB. $28,000 OC. $53,000 OD. $11,500 GETTE
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