As of December 31, 2021, Corporation reported the following: Cash dividends payable $ 30,000 Treasury...
As of December 31, 2021, Corporation reported the
following:
| Cash dividends payable | $ | 30,000 | |
| Treasury stock | 700,000 | ||
| Paid-in capital—share repurchase | 30,000 | ||
| Common stock and other paid-in capital accounts | 5,000,000 | ||
| Retained earnings | 4,000,000 | ||
During 2022, half of the treasury stock was resold for $260,000;
net income was $700,000; cash dividends declared were $600,000; and
small stock dividends declared and distributed were $420,000.
What would shareholders' equity be as of December 31, 2022?
Multiple Choice
-
$9,690,000.
-
$8,690,000.
-
$8,780,000.
-
None of these amounts is correct
Homework Answers
| Common stock and other paid-in capital accounts | 5420000 |
| Retained earnings (4000000+700000-60000-600000-420000) | 3620000 |
| Total | 9040000 |
| Less: Treasury Stock | -350000 |
| Total Stockholder's equity | 8690000 |
So answer is b) $8690000
Add Answer to:
As of December 31, 2021, Corporation reported the
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Cash dividends payable
$
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Returning to Warner Corporation from the previous problem: As of December 31, 2018, Warner Corporation reported...
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Help Save & Exit Submit As of December 31, 2018, Warner Corporation reported the following Dividends...
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Yellow Enterprises reported the following ($ in 000s) as of December 31, 2018. All accounts have ...
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par common stock issued and outstanding. At December 31, 2021,
stockholders’ equity had the amounts listed here. Transactions
during 2022 and other information related to stockholders’ equity
accounts were as follows.
Common Stock
$6,775,000
Additional Paid-in Capital
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Retained Earnings
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share 120,000 shares of $103 par value, 7% cumulative preferred
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On February 8, reacquired 17,200
shares of its common stock...
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par common stock issued and outstanding. At December 31, 2021,
stockholders’ equity had the amounts listed here. Transactions
during 2022 and other information related to stockholders’ equity
accounts were as follows.
Common Stock
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Additional Paid-in Capital
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Retained Earnings
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On January 10, issued at $108 per
share 120,000 shares of $103 par value, 7% cumulative preferred
stock.
On February 8, reacquired 17,200
shares of its common stock...
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