Bob Marley Corporation was organized on January 2, 2012. During 2014, Bob Marley issued 20,000 shares at $12 per share, purchased 3,000 shares of treasury stock at $13 per share, and had a net income of $150,000. What is the total amount of stockholders' equity at December 31, 2014? a. $320,000. b. $351,000. c. $354,000. d. $360,000.

Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter12: Statement Of Stockholders’ Equity (stockeq)
Section: Chapter Questions
Problem 2R: Chen Corporation began 2012 with the following stockholders equity balances: The following selected...
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Bob Marley Corporation was organized on January 2, 2012.
During 2014, Bob Marley issued 20,000 shares at $12 per
share, purchased 3,000 shares of treasury stock at $13 per
share, and had a net income of $150,000. What is the total
amount of stockholders' equity at December 31, 2014?
a. $320,000.
b. $351,000.
c. $354,000.
d. $360,000.
Transcribed Image Text:Bob Marley Corporation was organized on January 2, 2012. During 2014, Bob Marley issued 20,000 shares at $12 per share, purchased 3,000 shares of treasury stock at $13 per share, and had a net income of $150,000. What is the total amount of stockholders' equity at December 31, 2014? a. $320,000. b. $351,000. c. $354,000. d. $360,000.
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