Question

Wiley Hill opened Hill's Repairs on March 1 of the current year. During March, the following transactions occurred:

1. Wiley invested $25,000 cash in the business in exchange for common stock.
2. Wiley contributed $100,000 of equipment to the business in exchange for common stock.
3. The company paid $2,000 cash to rent office space for the month of March.
4. The company received $16,000 cash for repair services provided during March.
5. The company paid $6,200 for salaries for the month of March.
6. The company provided $3,000 of services to customers on account.
7. The company paid cash of $500 for utilities for the month of March.
8. The company received $3,100 cash in advance from a customer for repair services to be provided in April.
9. The company paid $5,000 in cash dividends.

Based on this information, the total amount of stockholders’ equity reported on the balance sheet at the end of March would be:

Answer 1

Calculate total amount of stockholder's equity

Common Stock (25000+100000)	125000
Retained earnings	5300
Total Stockholder's equity	130300