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30 November, 05:41

Roberto Corporation was organized on January 1, 2018. The firm was authorized to issue 86,000 shares of $5 par common stock. During 2018, Roberto had the following transactions relating to shareholders' equity: Issued 10,600 shares of common stock at $6.30 per share. Issued 19,900 shares of common stock at $9.20 per share. Reported a net income of $107,000. Paid dividends of $56,000. Purchased 2,000 shares of treasury stock at $11.20 (part of the 19,900 shares issued at $9.20). What is total shareholders' equity at the end of 2018?

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  1. 30 November, 09:25
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    Total Stockholders equity 227,460

    Explanation:

    Common Stock 28,500 shares outstanding at $5 142,500

    10600 5 53000

    19900 5 99500

    -2000 5 - 10000 Treasury Stock

    28500 142500

    Additional Paid-InCapital 97,360

    Additional Paid-In TS (12,400)

    Total Stockholders equity 227,460
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