As of December 31, 2018, Warner Corporation reported the following: Dividends payable $ 28,000 Treasury stock 680,000 Paid-in capital—share repurchase 28,000 Other paid-in capital accounts 4,800,000 Retained earnings 3,800,000 During 2019, half of the treasury stock was resold for $256,000; net income was $680,000; cash dividends declared were $1,580,000; and stock dividends declared were $580,000. What would shareholders' equity be as of December 31, 2019? please avoid image based solution
As of December 31, 2018, Warner Corporation reported the following: Dividends payable $ 28,000 Treasury stock 680,000 Paid-in capital—share repurchase 28,000 Other paid-in capital accounts 4,800,000 Retained earnings 3,800,000 During 2019, half of the treasury stock was resold for $256,000; net income was $680,000; cash dividends declared were $1,580,000; and stock dividends declared were $580,000. What would shareholders' equity be as of December 31, 2019? please avoid image based solution
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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As of December 31, 2018, Warner Corporation reported the following: Dividends payable $ 28,000
please avoid image based solutions thnx
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