Triad's total stockholders' equity wasTriad Corporation's December 31, 2008 balance sheet showed the following:8% preferred stock, P20 par value, cumulative, 10,000 shares authorized;5,000 shares issuedCommon stock, P10 par value, 1,000,000 shares authorized; 650,000shares issued, 640,000 shares outstanding 6,500,000 Paid-in capital in excess of parvalue preferred stock 20,000 Paid-in capital in excess of par value-common stock9,000,000Retained earningsTreasury stock (10,000 shares)P 100,0002,500,000210,000O P18,380,000.O P15,620,000.P18,170,000.O P17,910,000.

Answer - P 17,910,000. Stockholders Equity includes common stock , preferred stock , Additional paid…

Answered: Triad Corporation's December 31, 2008…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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The stockholders' equity section of the January 1, 2031 balance sheet for XYZ Company is given below: Common stock, $14 par value ................. $525,000 Paid-in capital – common stock .............. $150,000 Treasury stock (14,000 shares @ $16 cost) ... $224,000 Paid-in capital – treasury stock ............ $ 13,000 Retained earnings ........................... $107,000 XYZ Company entered into the following transactions during 2031: a. Re-issued 2,000 of the treasury shares for $11 per share. b. Re-issued 3,000 of the treasury shares for $13 per share. c. Issued 5,000 shares of previously un-issued common stock for $21 per share. d. Re-issued 6,000 of the treasury shares for $19 per share. Calculate the balance in the retained earnings account after all four transactions above are recorded.
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