On January 1, 2022, Queens Company reported the following stockholders equity: On January 4, the company purchased

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On January 1, 2022, Queens Company reported the following stockholders’ equity:


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On January 4, the company purchased 10,000 shares of its own stock at $25 per share to be held as treasury stock. On June 30, the company declared a $2 per share cash dividend to be paid on July 7. Net income for the year ended December 31 amounted to $280,000. Prepare the stockholders’ equity section of Queens Company’s balance sheet at December 31, 2022.

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Intermediate Accounting

ISBN: 9780136946694

3rd Edition

Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella

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