Question
On January 1, 2018 Maplewood corporation had the following balances in its stockholders equity accounts: Common stock, $100,000 (10,000 shares of $10 par value stock);
On January 1, 2018 Maplewood corporation had the following balances in its stockholders equity accounts: Common stock, $100,000 (10,000 shares of $10 par value stock); Additional-Paid-In-Capital: excess over par $20,000; and retained earnings, $50,000. During 2018, the company Issued 2,000 additional shares of common stock for $15 per share, reported net Income of $60,000 and paid cash dividends of $20,000. What amount of stockholders Equity would Maplewood Corporation report on its December 31, 2018 balance sheet?
A. $110,000
B. $90,000
C. $240,000
D. $210,000
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Managerial Accounting
Authors: John Wild, Ken Shaw
5th edition
978-1259176494, 1259176495, 978-1259347641, 1259347648, 978-0078025600
