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Required information (The following information applies to the questions displayed below.) The stockholders equity of TVX Co

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Answer #1

Common stock:

= $900,000 + (60,000 X 2% X $10)

= $912,000

Paid in capital in excess of par:

= $424,000 + [60,000 X 2% X ($36 - $10)]

= $455,200

Retained earnings:

= $547,000 - (60,000 X 2% X $36)

= $503,800

Common stock $912,000
Paid in capital in excess of par, common stock $455,200
Retained earnings $503,800
Total stockholders equity $1,871,000
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