Question
XYZ Corporation was organized on January 1, 2013, at which date it issued 100,000 shares of $10 par common stock at $15 per share. During
XYZ Corporation was organized on January 1, 2013, at which date it issued 100,000 shares of $10 par common stock at $15 per share. During the period January 1, 2013, through December 31, 2015, Weaver reported net income of $450,000 and paid cash dividends of $230,000.
On January 10, 2015, Weaver purchased 6,000 shares of its common stock at $12 per share. On December 31, 2015, Weaver sold 4,000 treasury shares at $8 per share. Weaver uses the cost method of accounting for treasury shares. What is Weaver's total stockholders' equity on December 31, 2015?
Wea XYZ Corporation was organized on January 1, 2013, at which date it issued 100,000 shares of $10 par common stock at $15 per share. During the period January 1, 2013, through December 31, 2015, Weaver reported net income of $450,000 and paid cash dividends of $230,000.
On January 10, 2015, Weaver purchased 6,000 shares of its common stock at $12 per share. On December 31, 2015, Weaver sold 4,000 treasury shares at $8 per share. Weaver uses the cost method of accounting for treasury shares. What is Weaver's total stockholders' equity on December 31, 2015?
$1,680,000
$1,720,000
$1,704,000
$1,688,000
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Management Accounting And Strategic Human Resource Management
Authors: John Innes, Reza Kouhy
1st Edition
1859714862, 978-1859714867
