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Roberto Corporation was organized on January 1, 2018. The firm was authorized to issue 96,000 shares...

Roberto Corporation was organized on January 1, 2018. The firm was authorized to issue 96,000 shares of $5 par common stock. During 2018, Roberto had the following transactions relating to shareholders' equity:

Issued 10,500 shares of common stock at $6.80 per share.
Issued 19,200 shares of common stock at $9.40 per share.
Reported a net income of $99,000.
Paid dividends of $53,000.
Purchased 3,000 shares of treasury stock at $11.40 (part of the 19,200 shares issued at $9.40).

What is total shareholders' equity at the end of 2018?

Multiple Choice

  • $282,480.

  • $263,680.

  • $266,280.

  • $316,680.

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Answer #1

Answer- The total shareholders' equity at the end of 2018 =$263680.

Explanation-

Total Shareholder's Equity
Particulars Amount
$
Issued 10500 shares @$6.80 per share 71400
Issued 19200 shares @$9.40 per share 180480
Add- Net Income 99000
Less- Dividends paid 53000
Less- Purchases 3000 treasury stock @$11.40 per share 34200
Shareholder's Equity 263680
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