Question
STHC Inc. originally issued 10,000 shares of common stock for $10/share. At the beginning of the current year, the company repurchased 2,000 shares for $15/share.
STHC Inc. originally issued 10,000 shares of common stock for $10/share. At the beginning of the current year, the company repurchased 2,000 shares for $15/share. Yesterday, the company reissued 1,000 shares for $20/share. Ignoring retained earnings, what will be STHC's total equity at the end of the current year?
| $70,000 | ||
| $90,000 | ||
| $100,000 | ||
| $110,000 |
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
International Financial Reporting
Authors: Alan Melville
7th Edition
1292293128, 9781292293127
