Question
Caraway Co. summarized select account balances on December 31, 2020, and activity for 2020 in the following table. Retained earnings, beginning balance $150,000 Common stock,
-
Caraway Co. summarized select account balances on December 31, 2020, and activity for 2020 in the following table.
Retained earnings, beginning balance
$150,000
Common stock, $1 par, 100,000 shares authorized, 50,000 shares issued
50,000
Treasury stock, 1,000 shares
10,500
Paid-in capital in excess of par
540,000
Accumulated other comprehensive income (credit)
25,000
Investment in stock
100,000
Bonds payable
50,000
Net income for 2020 (not included in retained earnings above)
22,000
Dividends declared and paid during 2020 (not included in retained earnings above)
5,000
Noncontrolling interests
4,500
Based on the information provided, what is total stockholders equity on December 31, 2020?
a. $797,000
b. $807,000
c. $776,000
d. $786,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started