Marvin Services Corporation Had the Following Accounts and Balances If the Balance of the Buildings Account Was $85000 What

question 86

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 $85000 what would be the total of liabilities and stockholders' equity?

• A)$170000
• B)$175000
• C)$135000
• D)$125000

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Definitions:

Innocent

Relates to the state of not being guilty of a crime or other wrong act.

Negligent

The failure to take reasonable care to avoid causing injury or loss to another person, leading to liability for any harm resulted from such careless actions.

Deceit

This tort involves the fraudulent and intentional misleading of another person causing injury.

Undue Influence

An improper or unfair persuasion that compels someone to act against their will or best interest, often affecting legal agreements or decisions.