Homework Answers
Answer: A.$65,000
Calculations:
| Stockholders' equity | |
| Paid-in capital: | |
| Common stock [11,000 x $5 par] | $55,000 |
| Paid-in capital in excess of par-common [11,000 x ($13 issue price-$5 par)] | $88,000 |
| Total paid-in capital | $143,000 |
| Retained earnings (Deficit balance) | ($78,000) |
| Total stockholders; equity | $65,000 |
Thus, Option A is correct and remaining options are incorrect.
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