QUESTION 6 CorrectMark 1.00 out of 1.00Remove flagEdit questionOn December 31, 2016, the accounts of Leuz Architect Services showed credit balances in its CommonStock and Retained Earnings accounts of $60,000 and $30,000, respectively. The company's stockissuances for 2017 totaled $12,000, and it paid $10,000 cash dividends in 2017. During 2017, the companyhad net income of $33,000.What is the total stockholders' equity for Leuz Architect Services at December 31, 2017?Select one:O A. $135,0000 B. $ 53,000O C.$72,000D. $125,000

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Asked Jan 23, 2019
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QUESTION 6 Correct
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On December 31, 2016, the accounts of Leuz Architect Services showed credit balances in its Common
Stock and Retained Earnings accounts of $60,000 and $30,000, respectively. The company's stock
issuances for 2017 totaled $12,000, and it paid $10,000 cash dividends in 2017. During 2017, the company
had net income of $33,000.
What is the total stockholders' equity for Leuz Architect Services at December 31, 2017?
Select one:
O A. $135,000
0 B. $ 53,000
O C.$72,000
D. $125,000
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QUESTION 6 Correct Mark 1.00 out of 1.00 Remove flag Edit question On December 31, 2016, the accounts of Leuz Architect Services showed credit balances in its Common Stock and Retained Earnings accounts of $60,000 and $30,000, respectively. The company's stock issuances for 2017 totaled $12,000, and it paid $10,000 cash dividends in 2017. During 2017, the company had net income of $33,000. What is the total stockholders' equity for Leuz Architect Services at December 31, 2017? Select one: O A. $135,000 0 B. $ 53,000 O C.$72,000 D. $125,000

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Expert Answer

Step 1

First step is to be compute the ending balance of Retained earnings by adding the net income in the begining balance of Retained earnings and then deduct the dividend paid from the sub-total.

The Common Stock capital at the end of year is computed b...

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