Stahl Consulting Started the Year with Total Assets of $60,000

question 228

Multiple Choice

Stahl Consulting started the year with total assets of $60,000 and total liabilities of $15,000. During the year, the business recorded $48,000 in catering revenues and $30,000 in expenses. Stahl issued stock of $9,000 and paid dividends of $15,000 during the year. The stockholders' equity at the end of the year was

• A) $33,000.
• B) $54,000.
• C) $57,000.
• D) $63,000.

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Definitions:

Identity Discovered

The process or instance of confirming or revealing the true identity of an individual or entity.

Acting as Agent

Operating on behalf of another person or entity with the authority to make decisions or perform actions.

Act of Ratification

The official approval or confirmation of an act or agreement, making it valid and legally binding.

Agreement Effective

The point in time when an agreement becomes legally binding and enforceable.