United, Inc.'s unadjusted current assets section and equity section of its December 31, Year 1, balance...

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United, Inc.'s unadjusted current assets section and equity section of its December 31, Year 1, balance sheet are as follows: Current Assets Cash $ 60,000 Investments in equity securities (including $300,000 of United common stock) 400,000 Trade accounts receivable 340,000 Inventories 148,000 Total $948,000 Equity Common stock $2,224,000 Retained earnings (deficit) (224,000) Total $2,000,000 The investments and inventories are reported at their costs, which approximate fair values. In its Year 1 statement of equity, United's total amount of equity at December 31, Year 1, is A. $2,224,000 B. $2,000,000 C. $1,924,000 D. $1,700,000 United, Inc.'s unadjusted current assets section and equity section of its December 31, Year 1, balance sheet are as follows: Current Assets Cash $ 60,000 Investments in equity securities (including $300,000 of United common stock) 400,000 Trade accounts receivable 340,000 Inventories 148,000 Total $948,000 Equity Common stock $2,224,000 Retained earnings (deficit) (224,000) Total $2,000,000 The investments and inventories are reported at their costs, which approximate fair values. In its Year 1 statement of equity, United's total amount of equity at December 31, Year 1, is A. $2,224,000 B. $2,000,000 C. $1,924,000 D. $1,700,000

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D 1700000 Answer D is correct The 300000 of United common ... View the full answer