Presented below is the stockholders' equity section of Oaks Corporation at December 31, 2014: Common stock, par value $20; authorized 75,000 shares; issued and outstanding 45,000 shares $ 900,000 Paid-in capital in excess of par value 350,000 Retained earnings 300,000 $1,550,000 During 2015, the following transactions occurred relating to stockholders' equity: 3,000 shares were reacquired at $28 per share. 3,000 shares were reacquired at $35 per share. 1,800 shares of treasury stock were sold at $30 per share. For the year ended December 31, 2015, Oaks reported net loss of $150,000. Assuming Oaks accounts for treasury stock under the cost method, what should it report as total stockholders' equity on its December 31, 2015, balance sheet? $1,265,000. $1,261,400. $1,565,000. $1,415,000.
Presented below is the
Common stock, par value $20; authorized 75,000 shares;
issued and outstanding 45,000 shares $ 900,000
Paid-in capital in excess of par value 350,000
$1,550,000
During 2015, the following transactions occurred relating to stockholders' equity:
3,000 shares were reacquired at $28 per share.
3,000 shares were reacquired at $35 per share.
1,800 shares of
For the year ended December 31, 2015, Oaks reported net loss of $150,000. Assuming Oaks accounts for treasury stock under the cost method, what should it report as total stockholders' equity on its December 31, 2015,
- $1,265,000.
- $1,261,400.
- $1,565,000.
- $1,415,000.
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