Below Is a List of Various Balance Sheet Accounts and Their

question 90

Multiple Choice

Below is a list of various balance sheet accounts and their balances. What are the total current liabilities that would be shown on the balance sheet?

• A)$29,800
• B)$9,000
• C)$9,800
• D)$6,800

---

Definitions:

Stockholders' Equity

Stockholders' Equity represents the ownership interest of shareholders in a corporation, calculated as the difference between total assets and total liabilities.

Par Value

The nominal or face value of a bond, share, or coupon as stated by the issuer, often used in the context of bonds and stock.

Legal Expense

Costs incurred by a business related to legal services such as attorney fees, settlements, and court costs, often recognized as part of operating expenses.

Organization Expense

Organization expense comprises the costs related to forming a business entity, such as legal fees, registration fees, and initial administrative expenses.