The following account balances were drawn from the financial statements of grayson company: cash $ 5,000 accounts payable $ 1,550 accounts receivable $ 2,100 common stock ? land $ 8,600 retained earnings, jan.1 $ 3,300 revenue $ 10,100 expenses $ 7,550 based on the above information, what is the balance of common stock for grayson company?

The balance of Common Stock for Grayson Company is $8,300

Explanation:

For computing the common stock value, first we have to compute the ending retained earning balance which is shown below

= Beginning retained earning balance + revenues - expenses

= $3,300 + $10,100 - $7,550

= $5,850

Thus, the ending balance is $5,850

Now by applying the accounting equation we can compute the common stock value

Accounting equation is equals to

Assets = Liabilities + Equity

where,

Assets = Cash + Accounts receivable + Land

           = $5,000 + $2,100 + $8,600

           = $15,700

Liabilities = Accounts payable = $1,550

And, Equity = Ending Retained earnings balance + common stock

                   = $5,850 + common stock

Now, apply the above accounting equation which is shown below:

$15,700 = $1,550 + $5,850 + common stock

$15,700 = $7,400 + common stock

So, common stock = $8,300

Hence, the balance of Common Stock for Grayson Company is $8,300

d, conspicuous consumption is when you try to increase your wealth or social status (and in the case he's trying to create the perception of wealth considering he can't really afford it)

i would say iii (3) because in order to compare a price you have to use as a reference other near stores because it's its

hope i explained myself