Use This Financial Statement to Answer the Following Question(s)

question 184

Multiple Choice

Use this financial statement to answer the following question(s) :

-Refer to the financial statement above.The Common stock balance (B above) equals ________.

• A)$10,000
• B)$ 7,000
• C)$13,000
• D)$ 3,000

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Definitions:

Revenue Report

A financial document that outlines the income generated by a company from its normal business operations.

General Journal Entry

A record in the general journal that includes the date, accounts and amounts to be debited and credited, and a brief description of the transaction.

Related Liabilities

Related liabilities are obligations that are directly associated with the primary operations or financial activities of a business.

Total Billed

The cumulative amount of charges or fees invoiced to a customer for goods or services provided.