Flores Realty Corporation had the following balance sheet accounts and balances: $$\begin{array} { l c l r }
\text { Accounts Payable } & \$ 6,000 & \text { Common Stock } & ? \
\text { Accounts Recevable } & 1,000 & \text { Equipment } & \$ 7,000 \
\text { Building } & ? & \text { Land } & 7,000 \
\text { Cash } & 3,000 & \text { Retained Earninge } & 2,000
\end{array}$$ If the balance of the Building account were $8,000 and $3,000 of Accounts Payable were paid in cash,what would be the total liabilities and stockholders' equity?

Question

Flores Realty Corporation had the following balance sheet accounts and balances: $$\begin{array} { l c l r } 
\text { Accounts Payable } & \$ 6,000 & \text { Common Stock } & ? \
\text { Accounts Recevable } & 1,000 & \text { Equipment } & \$ 7,000 \
\text { Building } & ? & \text { Land } & 7,000 \
\text { Cash } & 3,000 & \text { Retained Earninge } & 2,000
\end{array}$$ If the balance of the Building account were $8,000 and $3,000 of Accounts Payable were paid in cash,what would be the total liabilities and stockholders' equity?

Quizplus · Accepted Answer

The Answer of Flores Realty Corporation had the following balance sheet accounts and balances: $$\begin{array} { l c l r } 
\text { Accounts Payable } & \$ 6,000 & \text { Common Stock } & ? \
\text { Accounts Recevable } & 1,000 & \text { Equipment } & \$ 7,000 \
\text { Building } & ? & \text { Land } & 7,000 \
\text { Cash } & 3,000 & \text { Retained Earninge } & 2,000
\end{array}$$ If the balance of the Building account were $8,000 and $3,000 of Accounts Payable were paid in cash,what would be the total liabilities and stockholders' equity?

Flores Realty Corporation Had the Following Balance Sheet Accounts and Balances