A Firm Has Common Stock of $6,200, Paid-In Surplus of $9,100

question 2

Multiple Choice

A firm has common stock of $6,200, paid-in surplus of $9,100, total liabilities of $8,400, current assets of $5,900, and fixed assets of $21,200. What is the amount of the shareholders' equity?

• A) $6,900
• B) $15,300
• C) $18,700
• D) $23,700
• E) $35,500

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Definitions:

NSF

An abbreviation for "Non-Sufficient Funds," indicating that a cheque could not be honored due to insufficient funds in the account.

NSF Cheque

A cheque that has been returned by a bank as unpaid because the account on which it was drawn did not have sufficient funds, often incur fees.

Bank Service Charges

Fees charged by banks for the use of their services, such as account maintenance fees, transaction fees, and overdraft charges.