3 The following amounts are reported in the ledger of Mariah

3. The following amounts are reported in the ledger of Mariah Company Assets Liabilities Retained Earnings $76,000 44,000 10,000 What is the balance in the common stock account? O $32,000 O $22.000 O $54,000 o $66,000 0 Type here to search

Solution

B. $22,000

The balance in the Common Stock account is:

= Assets - Liabilities - Retained Earnings

= $76,000 - $44,000 - $10,000

= $22,000