A corporation has $80,000 in total assets,$36,000 in total liabilities,and a $12,000 credit balance in retained earnings.What is the balance in the contributed capital account?
A)$56,000
B)$44,000
C)$48,000
D)$32,000

Question

Quizplus · Accepted Answer

Stockholders' equity ($44,000) = Assets ($80,000) - Liabilities ($36,000)Stockholders' equity ($44,000) = Contributed capital ($32,000) + Retained earnings ($12,000)

A Corporation Has $80,000 in Total Assets,$36,000 in Total Liabilities,and