Marvin Services Corporation had the following accounts and balances: $$\begin{array} { l r l r }
\text { Accounts payable } & \$ 18,000 & \text { Equipment } & \$ 21,000 \
\text { Accounts receivable } & 3,000 & \text { Land } & 21,000 \
\text { Buildings } & ? & \text { Unearned service revenue } & 6,000 \
\text { Cash } & 9,000 & \text { Total stockholders' equity } & ?
\end{array}$$ If the balance of the Buildings account was $24,000 and $6,000 of Accounts Payable were paid in cash, what would be the total liabilities and stockholders' equity?
A) $54,000
B) $78,000
C) $48,000
D) $72,000

Question

Marvin Services Corporation had the following accounts and balances: $$\begin{array} { l r l r } 
\text { Accounts payable } & \$ 18,000 & \text { Equipment } & \$ 21,000 \
\text { Accounts receivable } & 3,000 & \text { Land } & 21,000 \
\text { Buildings } & ? & \text { Unearned service revenue } & 6,000 \
\text { Cash } & 9,000 & \text { Total stockholders' equity } & ?
\end{array}$$ If the balance of the Buildings account was $24,000 and $6,000 of Accounts Payable were paid in cash, what would be the total liabilities and stockholders' equity?
A) $54,000
B) $78,000
C) $48,000
D) $72,000

Quizplus · Accepted Answer

The Answer of Marvin Services Corporation had the following accounts and balances: $$\begin{array} { l r l r } 
\text { Accounts payable } & \$ 18,000 & \text { Equipment } & \$ 21,000 \
\text { Accounts receivable } & 3,000 & \text { Land } & 21,000 \
\text { Buildings } & ? & \text { Unearned service revenue } & 6,000 \
\text { Cash } & 9,000 & \text { Total stockholders' equity } & ?
\end{array}$$ If the balance of the Buildings account was $24,000 and $6,000 of Accounts Payable were paid in cash, what would be the total liabilities and stockholders' equity?
A) $54,000
B) $78,000
C) $48,000
D) $72,000

Marvin Services Corporation Had the Following Accounts and Balances If the Balance of the Buildings Account Was $24,000 and