A corporation has $80,000 in total assets, $36,000 in total liabilities, and a $12,000 debit balance in

Question:

A has $80,000 in total assets, $36,000 in total liabilities, and a $12,000 debit balance in retained earnings. What is the balance in the contributed capital account?
A. $ 56,000
B $ 44,000
C. $ 48,000
D. $31,500
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...