During 2012 half of the treasury stock was resold for, Ask an Expert

Accounting

As of December 31, 2011, Warner Corporation reported the following:

Dividends Payable $20,000
Treasury Stock $600,000
Paid in capital -share repurchase $20,000
other paid in capital accounts $4,000,000
retained earnings $3,000,000

During 2012, half of the treasury stock was resold for $240,000; net income was $600,000; cash dividends declared were $1,500,000; and stock dividends declared were $500,000.

What would shareholders' equity be as of December 31, 2012?

A. Amount is not shown.

B. $5,760,000.

C. $5,820,000.

D. $6,760,000.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M969729

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