LALALAND Corporation was organized on 1/1/2020. It was authorized to issue 2 million, $1 par, common stock. During the year, the company had the following transactions: January 5- Issued 400,000 common shares for cash, at $ 1.00 each. February 7- issued 250,000 common shares for cash, at $ 1.50 each. April 3- Reacquired 10,000 of its common shares, by paying $ 3,00 per share. June 17- Sold 5,000 of its treasury stock, at a price of $ 4,00 per share. September 20- Sold all the remaining treasury stock it has, at a price of $ 3.2 per share. October 30- Reacquired 20,000 of its common shares, at $ 2.5 per share. Question: If you know that Retained Earnings are $ 60,000, What is the dollar value of Total Stockholders' Equity, at year end?
LALALAND Corporation was organized on 1/1/2020. It was authorized to issue 2 million, $1 par, common stock. During the year, the company had the following transactions: January 5- Issued 400,000 common shares for cash, at $ 1.00 each. February 7- issued 250,000 common shares for cash, at $ 1.50 each. April 3- Reacquired 10,000 of its common shares, by paying $ 3,00 per share. June 17- Sold 5,000 of its treasury stock, at a price of $ 4,00 per share. September 20- Sold all the remaining treasury stock it has, at a price of $ 3.2 per share. October 30- Reacquired 20,000 of its common shares, at $ 2.5 per share. Question: If you know that Retained Earnings are $ 60,000, What is the dollar value of Total Stockholders' Equity, at year end?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 5MC: Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par...
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LALALAND Corporation was organized on 1/1/2020. It was authorized to issue 2 million, $1 par, common stock. During the year, the company had the following transactions:
January 5- Issued 400,000 common shares for cash, at $ 1.00 each.
February 7- issued 250,000 common shares for cash, at $ 1.50 each.
April 3- Reacquired 10,000 of its common shares, by paying $ 3,00 per share.
June 17- Sold 5,000 of its treasury stock , at a price of $ 4,00 per share.
September 20- Sold all the remaining treasury stock it has, at a price of $ 3.2 per share.
October 30- Reacquired 20,000 of its common shares, at $ 2.5 per share.
Question: If you know that Retained Earnings are $ 60,000, What is the dollar value of Total Stockholders' Equity , at year end?
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