Roberto Designers was organized on January 1, 2021. The firm was authorized to issue 140,000 shares of $5 par value common stock. During 2021, Roberto had the following transactions relating to stockholders' equity: Issued 14,000 shares of common stock at $7 per share Issued 28,000 shares of common stock at $8 per share. Reported a net income of $140,000. Paid dividends of $70,000. Purchased 4,000 shares of treasury stock at $10 (part of the 28,000 shares issued at $8) What is total stockholders' equity at the end of 2021? Multiple Choice $674,000. $380,000 $352,000 $814,000

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Q. question 7

Roberto Designers was organized on January 1, 2021. The firm was authorized to issue 140,000 shares of $5 par value common stock. During 2021, Roberto had the following
transactions relating to stockholders' equity:
Issued 14,000 shares of common stock at $7 per share
Issued 28,000 shares of common stock at $8 per share.
Reported a net income of $140,000.
Paid dividends of $70,000.
Purchased 4,000 shares of treasury stock at $10 (part of the 28,000 shares issued at $8)
What is total stockholders' equity at the end of 2021?
Multiple Choice
$674,000.
$380,000
$352,000
$814,000
Expand
Transcribed Image Text

Roberto Designers was organized on January 1, 2021. The firm was authorized to issue 140,000 shares of $5 par value common stock. During 2021, Roberto had the following transactions relating to stockholders' equity: Issued 14,000 shares of common stock at $7 per share Issued 28,000 shares of common stock at $8 per share. Reported a net income of $140,000. Paid dividends of $70,000. Purchased 4,000 shares of treasury stock at $10 (part of the 28,000 shares issued at $8) What is total stockholders' equity at the end of 2021? Multiple Choice $674,000. $380,000 $352,000 $814,000

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