Roberto corporation was organized on january 1 2009. the, Ask an Expert

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Roberto Corporation was organized on January 1, 2009. The firm was authorized to issue 100,000 shares of $5 par common stock. During 2009, Roberto had the following transactions relating to shareholders' equity:

Issued 10,000 shares of common stock at $7 per share.
Issued 20,000 shares of common stock at $8 per share.
Reported a net income of $100,000.
Paid dividends of $50,000.

Purchased 3,000 shares of treasury stock at $10 (part of the 20,000 shares issued at $8).

What is total shareholders' equity at the end of 2009?

$270,000.
$300,000.
$250,000.
$200,000.

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Business Management, Management Studies

Category:- Business Management
Reference No.:- M9101554

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