Required information The following information applies to th

Required information The following information applies to the questions displayed below. At December 31, 2018, the accounting records of Braun Corporation contain the following it 18,58e Accounts Receivable 245,0ee Cash $ 45,89e Accounts Payable Land Capital Stock Building Retained Earnings ? Equipment s 125,0ee 195,808 185,0ee Notes Payable 165,0ee Multiple Choice $88,500. $96,500 $43,500. $643,500.

Solution

We know Assets        =   liabilities + stockholders Equity Assets cash (balancing figure) 43,500 Accounts receivable 45,000 land 245,000 Building 185,000 Equipment 125,000 total 643,500 liabilities & stockholders Equity Accounts payable 18,500 Notes payable 195,000 Capital stock 265,000 retained earnings 165,000 total liabilities & stockholders Equity 643,500 Answer- $43,500