Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

An analysis of stockholders' equity of Sunland Company as of January 1, 2021, is as follows: $1680000 Common stock par value $20; authorized 100,000 shares

image text in transcribed
An analysis of stockholders' equity of Sunland Company as of January 1, 2021, is as follows: $1680000 Common stock par value $20; authorized 100,000 shares Issued and outstanding 84000 shares Pald-in capital in excess of par Retained earnings Total 840000 760000 $3280000 Sunland uses the cost method of accounting for treasury stock and during 2021 entered into the following transactions: Acquired 2510 shares of its stock for $72790, Sold 1920 treacury shares at $35 per share Sold the remaining treasury shares at $17 per share. Assuming no other equity transactions occurred during 2021, what should Sunland report at December 31, 2021, as total additional paid-in capital? Hint: Round intermediate calculations to decimal places.cg. 5,275. $858600 5832920 $844440

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Electronics Data Processing Systems

Authors: WATNE

1st Edition

0130516163, 978-0130516169

More Books

Students also viewed these Accounting questions