On August 31 of the current year, the assets and liabilities of Gladstone, Inc. are as follows: Cash $30,000; Supplies, $600; Equipment, $10,000; Accounts Payable, $8,500. What is the amount of stockholders' equity as of August 31 of the current year?
A. $49,100.
B. $32,100.
C. $10,900.
D. $30,900.
E. $12,100.
Answer: B
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The city of Anchorage sold land for its appraised value to the Big Bear Oil Company on June 1, 2014, that originally cost the city $950,000. On June 1, 2014, the land was appraised at a value of $1,400,000, and on December 31, 2014, the land's value was estimated to be $1,450,000. On Big Bear Oil Company's balance sheet at December 31, 2014, the land should be valued at
A) $1,400,000 B) $1,450,000 C) $950,000 D) $0
A plaintiff need not prove actual economic loss to recover damages in a disparagement case
Indicate whether the statement is true or false
Costs that are not classified as product costs are normally expensed in the period incurred.
Answer the following statement true (T) or false (F)
Clear Day Company, which is based in Delaware, agrees to sell fifty windows, currently stored in Florida, to Great Vu, Inc., which is based in Hawaii. Absent an agreement to the contrary, the place of delivery is in
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