On May 31 of the Current Year, the Assets and Liabilities

question 105

Multiple Choice

On May 31 of the current year, the assets and liabilities of Riser, Inc. are as follows: Cash $20,500; Accounts Receivable, $7,250; Supplies, $650; Equipment, $12,000; Accounts Payable, $9,300. What is the amount of stockholders' equity as of May 31 of the current year?

• A)$8,300
• B)$13,050
• C)$20,500
• D)$31,100
• E)$40,400

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