Marvin Services Corporation Had the Following Accounts and Balances If the Balance of the Buildings Account Was $42,000 and

question 108

Multiple Choice

Marvin Services Corporation had the following accounts and balances: $$\begin{array} { l r l r } \text { Accounts payable } & \$ 18,000 & \text { Equipment } & \$ 21,000 \\\text { Accounts receivable } & 3,000 & \text { Land } & 21,000 \\\text { Buildings } & ? & \text { Unearned service revenue } & 6,000 \\\text { Cash } & 9,000 & \text { Total stockholders' equity } & ?\end{array}$$ If the balance of the Buildings account was $42,000 and $3,000 of Accounts Payable were paid in cash, what would be the balance of the total stockholders' equity?

• A) $81,000
• B) $72,000
• C) $102,000
• D) $78,000

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