Question

XYZ, Inc. purchased an office building on October 1, 2020, that was put on the books at $800,000.  The building is expected to be used for 35 years and at the end of the 35 years will be sold for an estimated selling price of $100,000.  XYZ closes its books at the end of every calendar year.  XYZ, Inc. uses the straight-line method of depreciation.  Based on this information, which of the following is correct?

On January 3, 2020, Serrato Corp. issued 40,000 shares of $10 par value common stock for $11 per share. Which of the following statements is true?

At the end of the accounting period, the general ledger of Zack’s Skateboards had the following balances: Common Stock, $45,000; additional paid-in capital, $81,000; retained earnings, $336,000; and treasury stock, $18,000. What is the total amount of stockholders' equity?

Answer 1

He student, your 1 & 2 questions are incomplete, in their last lines you have asked 'which of following statement is correct' but have not shared the statements. In case you need answers of those two than shrare the statements in the comments section.

3. Total amount of shareholders equity

= 45,000+81,000+336,000 = $462,000

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