Marvin Services Corporation Had the Following Accounts and Balances If the Balance of the Buildings Account Was $24,000 and

question 161

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 $24,000 and $6,000 of Accounts Payable were paid in cash, what would be the total liabilities and stockholders' equity?

• A) $54,000
• B) $78,000
• C) $48,000
• D) $72,000

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