Marvin Services Corporation had the following accounts and balances: $$\begin{array} { l r l r }
\text { Accounts payable } & \$ 30,000 & \text { Equipment } & \$ 35,000 \
\text { Accounts receivable } & 5,000 & \text { Land } & 35,000 \
\text { Buildings } & ? & \text { Unearned service revenue } & 10,000 \
\text { Cash } & 15,000 & \text { Total stockholders' equity } & ?
\end{array}$$ If the balance of the Buildings account was $85,000, what would be the total of liabilities and stockholders' equity?
A)$170,000
B)$175,000
C)$135,000
D)$125,000

Question

Marvin Services Corporation had the following accounts and balances: $$\begin{array} { l r l r } 
\text { Accounts payable } & \$ 30,000 & \text { Equipment } & \$ 35,000 \
\text { Accounts receivable } & 5,000 & \text { Land } & 35,000 \
\text { Buildings } & ? & \text { Unearned service revenue } & 10,000 \
\text { Cash } & 15,000 & \text { Total stockholders' equity } & ?
\end{array}$$ If the balance of the Buildings account was $85,000, what would be the total of liabilities and stockholders' equity?
A)$170,000
B)$175,000
C)$135,000
D)$125,000

Quizplus · Accepted Answer

The Answer of Marvin Services Corporation had the following accounts and balances: $$\begin{array} { l r l r } 
\text { Accounts payable } & \$ 30,000 & \text { Equipment } & \$ 35,000 \
\text { Accounts receivable } & 5,000 & \text { Land } & 35,000 \
\text { Buildings } & ? & \text { Unearned service revenue } & 10,000 \
\text { Cash } & 15,000 & \text { Total stockholders' equity } & ?
\end{array}$$ If the balance of the Buildings account was $85,000, what would be the total of liabilities and stockholders' equity?
A)$170,000
B)$175,000
C)$135,000
D)$125,000

Marvin Services Corporation Had the Following Accounts and Balances If the Balance of the Buildings Account Was $85,000, What