Marvin Services Corporation Had the Following Accounts and Balances If the Balance of the Buildings Account Was $75000 and

question 51

Multiple Choice

Marvin Services Corporation had the following accounts and balances: $$\begin{array} { l r l r } \text { Accounts payable } & \$ 30,000 & \text { Equipment } & \$ 35,000 \\\text { Accounts receivable } & 5,000 & \text { Land } & 35,000 \\\text { Buil dings } & ? & \text { Unearned service revenue } & 10,000 \\\text { Cash } & 15,000 & \text { Total stockholders' equity } & ?\end{array}$$ If the balance of the Buildings account was $75000 and the equipment was sold for $35000 what would be the total of stockholders' equity?

• A)$65000
• B)$90000
• C)$115000
• D)$125000

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