A companys retained earnings on December 31, 2018 was $2,190,000 and its shareholders equity was $8,760,000. During
Fantastic news! We've Found the answer you've been seeking!
Question:
A company’s retained earnings on December 31, 2018 was $2,190,000 and its shareholders’ equity was $8,760,000. During 2019 the company reported the following: Net income $225,000 A sale of treasury stock costing $75,000 for $79,750 A treasury stock purchase costing $125,700 A cash dividend declaration of $73,200 A 10,000 share “small” common stock ($10 par value) dividend was declared and distributed when the market value was $12.75 per share. What is the shareholders’ equity balance on December 31, 2019?
Related Book For
Intermediate Accounting
ISBN: 978-0324312140
16th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
Posted Date: