Rick and Joe get together and start a mortgage brokerage business. They each contribute $25,000 of capital to the business. After the first year of operation, the total owners' equity is listed as $60,000. Most likely, the additional $10,000 of owners' equity is

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02-07-2021
Business

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Rick and Joe get together and start a mortgage brokerage business. They each contribute $25,000 of capital to the business. After the first year of operation, the total owners' equity is listed as $60,000. Most likely, the additional $10,000 of owners' equity is

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topeadeniran2 topeadeniran2 · Answer 1 · 2021-07-06T20:30:56-04:00

topeadeniran2 topeadeniran2

06-07-2021

Answer: a common stock.

Explanation:

Following the information given in the question, the additional $10,000 of owners' equity will be regarded as a common stock.

Commission stock is regarded as a corporate equity ownership and each share of stock simply means the holder has a small portion of ownership of that particular company. Every addition in owner's equity is common stock.

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