Question
Ioanna Corporation was organized on January 1, 2019, with an authorization of 2,000,000 shares of $30 par value common stock. During 2019, Ioanna had the
Ioanna Corporation was organized on January 1, 2019, with an authorization of 2,000,000 shares of $30 par value common stock. During 2019, Ioanna had the following common stock transactions:
Jan. 4: Issued 100,000 shares @ $36 per share.
Apr. 8: Issued 200,000 shares @ $42 per share.
June 9: Issued 60,000 shares @ $60 per share.
July 29: Purchased 40,000 shares (treasury) @ $60 per share.
Ioanna had no other transactions affecting stockholders equity.
At December 31, 2019, what is the total amount of stockholders equity?
Group of answer choices
$ 8,400,000
$13,200,000
$ 18,000,000
$ 9,600,000
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