Multiple Choice
At the time of liquidation,Fairchild Company reported assets of $200,000,liabilities of $120,000,common stock of $90,000 and retained earnings of ($10,000) .What amount of Fairchild's assets are the shareholders entitled to receive?
A) $200,000
B) $80,000
C) $90,000
D) $100,000
Correct Answer:
Verified
Correct Answer:
Verified
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