Moose Momentos had equity accounts in 2014 as follows: Common Stock ($1 Par Value) $120,000;
Retained Earnings 32,000;
Total Shareholder's Equity is equal to:
A) $90,000.
B) $92,000.
C) $122,000.
D) $152,000.

Question

Quizplus · Accepted Answer

Total Shareholder's Equity is calculated by adding Common Stock and Retained Earnings together. Therefore, $120,000 (Common Stock) + $32,000 (Retained Earnings) = $152,000.

Moose Momentos Had Equity Accounts in 2014 as Follows: Common