Question
Use the incomplete Stockholders' Equity section of Wilmerding Companys balance sheet as of December 31, 2017, to answer the following question. Common stock, $7 par,
Use the incomplete Stockholders' Equity section of Wilmerding Companys balance sheet as of December 31, 2017, to answer the following question.
| Common stock, $7 par, 100,000 shares authorized | $ 700,000 |
| Additional paid-in capitalcommon | 160,000 |
| Retained earnings | ? |
| Treasury stock (2,000 shares at cost) | (16,000) |
| Total stockholders' equity | 974,000 |
What is the amount of Wilmerdings retained earnings?
| a. | $98,000 | |
| b. | $130,000 | |
| c. | $860,000 | |
| d. | $114,000 |
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Fundamentals Of Accounting Course 2
Authors: Claudia B. Gilbertson
9th Edition
053844827X, 9780538448277
