Question
As of December 31, 2018, Warner Corporation reported the following: Dividends payable $ 35,000 Treasury stock 750,000 Paid-in capitalshare repurchase 35,000 Other paid-in capital accounts
As of December 31, 2018, Warner Corporation reported the following:
| Dividends payable | $ | 35,000 | |
| Treasury stock | 750,000 | ||
| Paid-in capitalshare repurchase | 35,000 | ||
| Other paid-in capital accounts | 5,500,000 | ||
| Retained earnings | 4,500,000 | ||
During 2019, half of the treasury stock was resold for $270,000; net income was $750,000; cash dividends declared were $1,650,000; and stock dividends declared were $650,000. What would shareholders' equity be as of December 31, 2019?
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Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren, George Foster, Srikant M. Datar
9th Edition
0306457229, 978-0306457227
