Question
22 01:53:11 ABC Company has the following beginning balances in its stockholders' equity accounts on January 1, 2021: Common Stock ($2 par value), $900; Additional
22 01:53:11 ABC Company has the following beginning balances in its stockholders' equity accounts on January 1, 2021: Common Stock ($2 par value), $900; Additional Paid-in Capital, $4,000; Retained Earnings, $29,000; Total Stockholders' equity, $33,900. ABC Company has the following transactions affecting stockholders' equity in 2021: May 18 Issues 240 additional shares of $2 par value common stock for $15 per share. May 31 Purchases 30 shares of treasury stock for $40 per share. July 1 Declares a cash dividend of $2 per share to all stockholders of record on July 15. Hint: Dividends are not paid on treasury stock. July 31 Pays the cash dividend declared on July 1. August 10 Resells 30 shares of treasury stock purchased on May 31 for $52 per share. December 31 Net income for the year ended December 31, 2021, is $800. Required: How many shares of common stock have been issued in total? O 690 O 1140 660 O 1110 What is the balance of Retained Earnings on December 31, 2021? O $28,480 O $27,580 O $27,520 O $29,380 What is the (debit) balance of the Treasury Stock account on December 31, 2021? O $-0 O $-360 O $0 O $1,200 What is the balance of Additional Paid-in Capital on December 31, 2021? O $7,480 O $6,760 O $7,240 O $4,840 How is the number of outstanding shares on December 31, 2021? O 690 O 1,140 O 240 O 900
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