Answered: The following amounts are reported in…

The following amounts are reported in the ledger of Mariah Company: Assets $80,000 Liabilities 36,000 Retained Earnings 12,000 What is the balance in the Common Stock account? a. $44,000

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 53E: Rebert Inc. showed the following balances for last year: Reberts net income for last year was...

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Question

The following amounts are reported in the ledger of Mariah Company:

Assets
$80,000
Liabilities
36,000
Retained Earnings
12,000

What is the balance in the Common Stock account?
a. $44,000.
b. $32,000.
c. $48,000.
d. $42,000.

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