Question
On 1/1/X1, Lamar Company issued capital stock for $200,000 that had a par value of $100,000. During year X1, Lamar earned $50,000 of income and
On 1/1/X1, Lamar Company issued capital stock for $200,000 that had a par value of $100,000. During year X1, Lamar earned $50,000 of income and paid $10,000 of dividends. on 12/30/X1, Lamar purchased 10% of its outstanding stock for $16,000. How much total equity will Lamar report on 12/31/X1?
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Principles Of Financial Accounting
Authors: Belverd E Needles, Marian Powers
11th Edition
0538755164, 9780538755160
