Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

1. Introduction to Accounting

Types of Accounting

Financial Accounting

1. Introduction to Accounting

Types of Accounting

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Multiple Choice

Which of the following is a stockholders' equity account?

Accounts Payable

Common Stock

Prepaid Expenses

Inventory

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Verified step by step guidance

Understand the concept of stockholders' equity: Stockholders' equity represents the owners' claim to the assets of a corporation after all liabilities have been deducted. It includes accounts such as Common Stock, Retained Earnings, and Additional Paid-In Capital.

Review the options provided in the problem: Accounts Payable, Common Stock, Prepaid Expenses, and Inventory.

Identify the nature of each account: Accounts Payable is a liability account, Prepaid Expenses is an asset account, and Inventory is also an asset account.

Recognize that Common Stock is part of stockholders' equity because it represents ownership in the corporation and is issued to shareholders in exchange for their investment.

Conclude that the correct answer is Common Stock, as it is the only account listed that falls under stockholders' equity.