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Flores Realty Corporation Had the Following Balance Sheet Accounts and Balances

Question 79

Multiple Choice

Flores Realty Corporation had the following balance sheet accounts and balances:  Accounts Payable $6,000 Common Stock ? Accounts Receivable 1,000 Equigment $7,000 Building ? Land 7,000 Cash 3,000 Retained Earnings 2,000\begin{array} { l c l r } \text { Accounts Payable } & \$ 6,000 & \text { Common Stock } & ? \\\text { Accounts Receivable } & 1,000 & \text { Equigment } & \$7 , 000 \\\text { Building } & ? & \text { Land } & 7,000 \\\text { Cash } & 3,000 & \text { Retained Earnings } & 2,000\end{array} If the balance of the Building account were $15,000 and if the equipment were sold for $7,000,what would be the total of stockholders' equity?


A) $27,000
B) $16,000
C) $15,000
D) $33,000

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