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On January 1, 2020, Agassi Corporation had the following stockholders equity accounts. Common Stock ($10 par value, 60,000 shares issued and outstanding)= $600,000 Paid-in Capital
On January 1, 2020, Agassi Corporation had the following stockholders equity accounts.
Common Stock ($10 par value, 60,000 shares issued and outstanding)= $600,000
Paid-in Capital in Excess of ParCommon Stock= 498,000
Retained Earnings= 630,000
During 2020, the following transactions occurred.
Jan. 15 | Declared and paid a $1.05 cash dividend per share to stockholders. | ||
Apr. 15 | Declared and paid a 10% stock dividend. The market price of the stock was $14 per share. | ||
May 15 | Reacquired 1,900 common shares at a market price of $15 per share. | ||
Nov. 15 | Reissued 950 shares held in treasury at a price of $18 per share. | ||
Dec. 31 | Determined that net income for the year was $366,000. |
Determine the ending balances for Paid-in Capital, Retained Earnings, and Stockholders Equity.
Ending balances Paid-in Capital Retained Earnings $ $ $ Stockholders' EquityStep by Step Solution
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