Use the following information to answer the question below. The following accounts appear in the ledger of Sayre Corporation on December 31,20xx:
$\begin{array}{lr}
\text { Preferred Stock } & \$ 30,000 \
\text { Common Stock } & 56,000 \
\text { Additional Paid-in Capital, Preferred } & 7,000 \
\text { Additional Paid-in Capital, Common } & 18,000 \
\text { Retained Earnings } & 40,000
\end{array}$
A balance sheet prepared on December 31,20xx,would report total contributed capital of

Question

Use the following information to answer the question below. The following accounts appear in the ledger of Sayre Corporation on December 31,20xx:
$\begin{array}{lr}
\text { Preferred Stock } & \$ 30,000 \
\text { Common Stock } & 56,000 \
\text { Additional Paid-in Capital, Preferred } & 7,000 \
\text { Additional Paid-in Capital, Common } & 18,000 \
\text { Retained Earnings } & 40,000
\end{array}$ 
A balance sheet prepared on December 31,20xx,would report total contributed capital of

Quizplus · Accepted Answer

Contributed capital includes Preferred Stock, Common Stock, Additional Paid-in Capital for both Preferred and Common. Thus, $30,000 + $56,000 + $7,000 + $18,000 = $111,000.

Use the Following Information to Answer the Question Below A Balance Sheet Prepared on December 31,20xx,would Report Total Contributed