The account balances for a company are listed below. All balances are as of Dec. 31, 2017, except where noted otherwise Accounts Payable $7,200 Rent Expense $2,100
Accounts Receivable 8,400 Equipment 74,500
Salaries Payable 5,600 Furniture 16,600
Notes Payable (due 12/31/19) 20,900 Depreciation Expense 4,000
Dividends 3,000 Accumulated Depreciation 10,000
Sales Revenue 139,500 Cash 14,000
Notes Payable (due 4/30/18) 2,500 Common Stock ???
Cost of Goods Sold 60,900 Trademark 8,000
Loss of Sale of Equipment 4,500 Retained Earnings (1/1/17) 56,200
Inventory 19,800 Marketable Equity Securities 300
Interest Expense 9,750 Gain on Sale of Building 2,450
Salary Expense 30,450 Prepaid Insurance Expense 500
Unearned Revenue 3,800 Copyright 6,000
Determine the common stock balance as of Dec. 31, 2017:

A. $20,650
B. $14,650
C. $2,850
D. $11,350
E. $17,150
A. $41,550
B. $42,050
C. $36,050
D. $30,250
E. $32,300

Solution :

Normal Debit balance             Normal Credit balance

Asset                                          Liabilities

Contra liability                            equity

expenses                                   Contra asset

loss                                              Revenues

Contra equity                                 Gains

Now working on the Trial balance :

Classification             Accounts                     Debit               Credit

Asset                 Accounts receivable          8400

Asset                    Inventory                         19800

Asset                Equipment                           74500

Asset               Furniture                               16600

Asset                       Cash                              14000

Asset                 Trademark                           8000

Asset      Marketable equity securities         300

Asset    Prepaid insurance expense             500

Asset          Copyright                                    6000

Contra Asset    Accumulated                                               10,000

Contra equity   Dividends                             3000

Equity          Retained earnings                                            56200

Expense      Cost of goods sold                   60900

Expense      Interest expense                      9750

Expense        Salary expense                       30450

Expense        rent expense                           2100

Expense        Depreciation expense            4000

Gain           Gain on sale of building                                     2450

Liability       Accounts payable                                              7200

Liability         Salaries payable                                              5600

Liability         Notes payable (due 12/31/19)                          20900

Liability         Notes payable (due 04/30/18)                        2500

Liability           Unearned revenue                                         3800

Loss             Loss of sale of equipment        4500

Revenue         Sales revenue                                                139500

                              Total                              $ 262,800       $ 248,150

                   Difference = common stock                            $ 14,650

Therefore the common stock on 31st of December 2017 = $ 14,650

answer; ///blank(1); dealers; blank(2); brokers;