From the following information taken from the records of Peach Company at December 31 of this year, calculate equity.
A) $1,500
B) $2,500
C) $7,500
D) $3,500
E) $6,000

Name: From the following information taken from the records of Peach Company at December 31 of this year, calculate equity. A) $1,500 B) $2,500 C) $7,500 D) $3,500 E) $6,000
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Question

From the following information taken from the records of Peach Company at December 31 of this year, calculate equity. 
A) $1,500 
B) $2,500 
C) $7,500 
D) $3,500 
E) $6,000

Quizplus · Accepted Answer

Equity is calculated as follows: 
Common stock: $2,500 
Retained earnings: $5,000 
Total equity: $7,500

From the Following Information Taken from the Records of Peach