Stahl Consulting Started the Year with Total Assets of $60,000

question 190

Multiple Choice

Stahl Consulting started the year with total assets of $60,000 and total liabilities of $15,000.During the year, the business recorded $48,000 in catering revenues and $30,000 in expenses.Stahl issued stock of $9,000 and paid dividends of $15,000 during the year.The stockholders' equity at the end of the year was

• A)$33,000.
• B)$54,000.
• C)$57,000.
• D)$63,000.

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Definitions:

Clears

typically refers to the process by which transactions are settled or reconciled between parties in trading or financial contexts.

Hold

A directive to keep, reserve, or delay an action or transaction, often used in financial and organizational contexts.

Ordinary Care

The degree of caution and attention to duty that a reasonably prudent person would use in similar circumstances.

Charge Back Rights

Charge back rights allow consumers to dispute a charge and potentially secure a refund for transactions found to be fraudulent or problematic.