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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,
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, $26,000; Total Stockholders' equity, $30,900. ABC Company has the following transactions affecting stockholders' equity in 2021: May 18 Issues 170 additional shares of $2 par value common stock for $10 per share. May 31 Purchases 30 shares of treasury stock for $35 per share. July 1 Declares a cash dividend of $1 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 20 shares of treasury stock purchased on May 31 for $50 per share. December 31 Net income for the year ended December 31, 2021, is $600. Required: How many shares of common stock have been issued in total? 0 620 O 1070 O 590 O 1040 What is the balance of Retained Earnings on December 31, 2021? O $26,010 O $25,560 O $25,530 O $26,460 What is the (debit) balance of the Treasury Stock account on December 31, 2021? O $350 0 $50 O $500 O $1,050 What is the balance of Additional Paid-in Capital on December 31, 2021? O $5,660 O $5,060 O $5,400 O $4,640 How is the number of outstanding shares on December 31, 2021? O 610 O 1,060 O 160 0910
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