The following amounts are reported in the ledger of Mariah C

The following amounts are reported in the ledger of Mariah Company $76,000 39,000 11,500 Assets Liabilities Retained Earnings What is the balance in the common stock account? O $37000 O $25,500 o $64,500 o $50,500

Solution

Total assets=Total liabilities+Total equity

76000=39000+(11500+common stock)

Hence common stock=(76000-39000-11500)

which is equal to

=$25500.