Marble Corporation had the following balances in its stockholders' equity accounts at December 31, 2012: Common...
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Marble Corporation had the following balances in its stockholders' equity accounts at December 31, 2012: Common Stock, $10 par, 50,000 shares authorized, 20,000 shares issued Contributed Capital in Excess of Par Value, Common Retained Earnings Total stockholders' equity The following transactions occurred during 2013: February 3 May 10 December 31 $200,000 250,000 500,000 $950,000 Sold and issued 3,000 shares of common stock for $22 per share. Declared a $0.50 per share dividend on common stock. Net income for the year was determined to be $75,000 Assuming that the dividend was eventually paid during the year, calculate the ending balance in the Retained Earnings account. Marble Corporation had the following balances in its stockholders' equity accounts at December 31, 2012: Common Stock, $10 par, 50,000 shares authorized, 20,000 shares issued Contributed Capital in Excess of Par Value, Common Retained Earnings Total stockholders' equity The following transactions occurred during 2013: February 3 May 10 December 31 $200,000 250,000 500,000 $950,000 Sold and issued 3,000 shares of common stock for $22 per share. Declared a $0.50 per share dividend on common stock. Net income for the year was determined to be $75,000 Assuming that the dividend was eventually paid during the year, calculate the ending balance in the Retained Earnings account.
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