Metcalf Inc. has the following account balances at year-end: Cash $9,000 Common stock 5,000 Accounts receivable 7,000 Accounts payable 2,000 Additional paid-in capital, common stock 4,000 Prepaid insurance 5,000 Unearned revenue 4,000 Retained earnings 6,000 What is the total balance reported for the stockholders' equity section on the company's balance sheet?
Metcalf Inc. has the following account balances at year-end: Cash $9,000 Common stock 5,000 Accounts receivable 7,000 Accounts payable 2,000 Additional paid-in capital, common stock 4,000 Prepaid insurance 5,000 Unearned revenue 4,000 Retained earnings 6,000 What is the total balance reported for the stockholders' equity section on the company's balance sheet?
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter14: Financial Statement Analysis
Section: Chapter Questions
Problem 10BE: A company reports the following: Determine (a) the return on stockholders equity and (b) the return...
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Metcalf Inc. has the following account balances at year-end:
| Cash | $9,000 |
| Common stock | 5,000 |
| Accounts receivable | 7,000 |
| Accounts payable | 2,000 |
| Additional paid-in capital, common stock | 4,000 |
| Prepaid insurance | 5,000 |
| Unearned revenue | 4,000 |
| 6,000 |
What is the total balance reported for the
Group of answer choices
$42,000
$24,000
$38,000
$15,000
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