As of December 31, 2011, Warner Corporation reported the following: Dividends Payable $20,000 Treasury Stock $600,000 Paid
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Question:
As of December 31, 2011, Warner Corporation reported the following:
Dividends Payable $20,000
Treasury Stock $600,000
Paid in capital -share repurchase $20,000
Other paid in capital accounts $4,000,000
Retained earnings $3,000,000
During 2012, half of the treasury stock was resold for $240,000; net income was $600,000; cash dividends declared were $1,500,000; and stock dividends declared were $500,000.
What would shareholders' equity be as of December 31, 2012?
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Related Book For 
Accounting concepts and applications
ISBN: 978-0538745482
11th Edition
Authors: Albrecht Stice, Stice Swain
Posted Date:
