The following account balances were drawn from the Year 1 financial statements of Grayson Company: Accounts...

 

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The following account balances were drawn from the Year 1 financial statements of Grayson Company: Accounts payable $6,000 $3,100 Common stock $9,600 Cash Accounts receivable Land What is the balance of the Common Stock account? Retained earnings, January 1 Revenue Expenses $2,050 ? $4,300 $11,100 $8,050 The following account balances were drawn from the Year 1 financial statements of Grayson Company: Accounts payable $6,000 $3,100 Common stock $9,600 Cash Accounts receivable Land What is the balance of the Common Stock account? Retained earnings, January 1 Revenue Expenses $2,050 ? $4,300 $11,100 $8,050

Answer rating: 100% (QA)

To find the balance of the Common Stock account we need to use the acco... View the full answer