3 MC Qu. 27 Roberto Corporation was... Roberto Corporation was organized on Janu

Question

3 MC Qu. 27 Roberto Corporation was... Roberto Corporation was organized on January 1, 2018. The firm was authorized to issue 100,000 shares of $5 par common stock. During 2018, Roberto had the following transactions relating to shareholders' equity: Issued 9,100 shares of common stock at $5.30 per share. Issued 20,800 shares of common stock at $9.40 per share Reported a net income of $96,000 Paid dividends of $52,000 Purchased 3,300 shares of treasury stock at $11.40 (part of the 20,800 shares issued at $9.40) points Skipped What is total shareholders' equity at the end of 2018?

Explanation / Answer

Calculate stockholder's equity ;

So answer is a) $250130

Common Stock (29900*5) 149500 Additional paid in capital (9100*.3+20800*4.4) 94250 Retained earnings 44000 Less: Treasury stock -37620 Total stockholder's equity 250130

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