On January 1, 2021 a corporation was organized. The firm was authorized to Issue 150,000 shares of $5 par value common stock. During 2021, the company had the following transactions relating to stockholders' equity: Issued 15,000 shares of common stock at $7 per share. Issued 30,000 shares of common stock at $8 per share. Reported a net income of $150,000. Pald dividends of $75,000. Purchased 4,000 shares of treasury stock at $10 (part of the 30,000 shares issued at $8). What is total stockholders' equlty at the end of 2021?
On January 1, 2021 a corporation was organized. The firm was authorized to Issue 150,000 shares of $5 par value common stock. During 2021, the company had the following transactions relating to stockholders' equity: Issued 15,000 shares of common stock at $7 per share. Issued 30,000 shares of common stock at $8 per share. Reported a net income of $150,000. Pald dividends of $75,000. Purchased 4,000 shares of treasury stock at $10 (part of the 30,000 shares issued at $8). What is total stockholders' equlty at the end of 2021?
Chapter1: Financial Statements And Business Decisions
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