The Following Amounts Are Reported in the Ledger of Bowers

question 39

Multiple Choice

The following amounts are reported in the ledger of Bowers Company: $$\begin{array} { | l | r | } \hline \text { Assets } & \$ 25,000 \text { (debit) } \\\hline \text { Liabilities } & 15,000 \text { (credit) } \\\hline \text { Retained earnings } & 3,000 \text { (credit) } \\\hline\end{array}$$ What is the balance in the contributed capital account?

• A) $7,000 credit.
• B) $8,000 debit.
• C) $12,000 credit.
• D) $12,000 debit.

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