A company reported total stockholders' equity of $336,000 on its balance sheet dated December 31, 2018....
A company reported total stockholders' equity of $336,000 on its balance sheet dated December 31, 2018. During the year ended December 31, 2019, the company reported net income of $41,400, declared and paid a cash dividend of $9,400, declared and distributed a 10% stock dividend with a $11,400 total market value, issued additional common stock for $56,000, and paid $13,400 to purchase treasury stock. What is total stockholders' equity as of December 31, 2019?
Multiple Choice:
-
$424,000.
-
$410,600.
-
$399,200.
-
$437,400.
Homework Answers
Correct answer--------$410,600
Working
| Stockholder's equity December 31 , 2018 | $ 336,000.00 |
| Add: Net income | $ 41,400.00 |
| Less: Cash dividend | $ (9,400.00) |
| Add: Additional common stock issue | $ 56,000.00 |
| Less: Purchase of treasury stock | $ (13,400.00) |
| Stockholders' equity as of December 31, 2019 | $ 410,600.00 |
Stock dividend do not change stockholder's equity in totality hence it is excluded from above calculations.
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