Yellow Enterprises reported the following ($ in thousands) as of December 31, 2021. All accounts have normal balances.Deficit (debit balance in retained earnings)$1800 Common stock 4000 Paid-in capital—share repurchase 1900 Treasury stock (at cost) 270 Paid-in capital—excess of par 31,000 During 2022 ($ in thousands), net income was $10,800; treasury stock was resold for $540; cash dividends declared were $730. What ($ in thousands) was shareholders' equity as of December 31, 2022?

Particulars Amount Opening Balance (Deficit) $ (1800) Common stock $ 4000…

Answered: Yellow Enterprises reported the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Yellow Enterprises reported the following ($ in thousands) as of December 31, 2021. All accounts have normal balances.

Deficit (debit balance in retained earnings)	$	1800
Common stock		4000
Paid-in capital—share repurchase		1900
Treasury stock (at cost)		270
Paid-in capital—excess of par		31,000

During 2022 ($ in thousands), net income was $10,800; treasury stock was resold for $540; cash dividends declared were $730.

What ($ in thousands) was shareholders' equity as of December 31, 2022?

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