Roberto Corporation was organized on January 1, 2021. The firm was authorized to issue 82,000 shares of $5 par common stock. During 2021, Roberto had the following transactions relating to shareholders' equity: Issued 10,800 shares of common stock at $5.50 per share. Issued 20,600 shares of common stock at $9.10 per share. Reported a net income of $94,000. Paid dividends of $46,000. Purchased 3,700 shares of treasury stock at $11.10 (part of the 20,600 shares issued at $9.10). What is total shareholders' equity at the end of 2021? $258,720. $253,790. $256,590. $299,790.
Roberto Corporation was organized on January 1, 2021. The firm was authorized to issue 82,000 shares of $5 par common stock. During 2021, Roberto had the following transactions relating to shareholders' equity: Issued 10,800 shares of common stock at $5.50 per share. Issued 20,600 shares of common stock at $9.10 per share. Reported a net income of $94,000. Paid dividends of $46,000. Purchased 3,700 shares of treasury stock at $11.10 (part of the 20,600 shares issued at $9.10). What is total shareholders' equity at the end of 2021? $258,720. $253,790. $256,590. $299,790.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter15: Contributed Capital
Section: Chapter Questions
Problem 2MC: Cary Corporation has 50,000 shares of 10 par common stock authorized. The following transactions...
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- Roberto Corporation was organized on January 1, 2021. The firm was authorized to issue 82,000 shares of $5 par common stock. During 2021, Roberto had the following transactions relating to shareholders' equity:
Issued 10,800 shares of common stock at $5.50 per share.
Issued 20,600 shares of common stock at $9.10 per share.
Reported a net income of $94,000.
Paid dividends of $46,000.
Purchased 3,700 shares oftreasury stock at $11.10 (part of the 20,600 shares issued at $9.10).
What is total shareholders' equity at the end of 2021?- $258,720.
- $253,790.
- $256,590.
- $299,790.
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