Question
22 ABC Company has the following beginning balances in its stockholders' equity accounts on January 1, 2021 Common Stock ($2 par value) $1,000; Additional Paid-in
22 ABC Company has the following beginning balances in its stockholders' equity accounts on January 1, 2021 Common Stock ($2 par value) $1,000; Additional Paid-in Capital $3,900: Retained Earnings, $30,000 Total Stockholders' equity, $34 900 ABC Company has the following transactions affecting stockholders' equity in 2021: May 18 Issues 210 additional shares of $2 par value common stock for $10 per share. May 31 Purchases 50 shares of treasury stock for $40 per share. July 1 Declares cash dividend of $2 per share to all stockholders of record on July 15. Hint: Dividends are not paid en treasury stock. July 31 Pays the cash dividend declared on July 1. August 18 Resells 28 shares of treasury stock purchased on May 31 for $56 per share. December 31 Net income for the year ended December 31, 2821, 1s $500. Required: How many shares of common stock have been issued in total? 0710 1210 O 660 1160 What is the balance of Retained Earnings on December 31, 2021 $29.480 O $28,480 $28,380 $30,480 What is the (debt balance of the Treasury Stock account on December 31, 2021? $1,200 $880 O $1,680 O $2,000 What is the balance of Additional Paid-in Capital on December 31, 20217 $5,900 $5,260 $5.680 054640
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