Use this financial statement to answer the following question(s):

-Refer to the financial statement above.The Common stock balance (B above)equals ________.
A)$10,000
B)$ 7,000
C)$13,000
D)$ 3,000

Question

Use this financial statement to answer the following question(s):

-Refer to the financial statement above.The Common stock balance (B above)equals ________.
A)$10,000 
B)$ 7,000 
C)$13,000 
D)$ 3,000

Quizplus · Accepted Answer

The Common stock balance is calculated by subtracting the retained earnings and additional paid-in capital from the total equity. Based on the given options, $13,000 is the correct balance for Common stock.

Use This Financial Statement to Answer the Following Question(s)