Roberto corporation was organized on january 1 2011. the, Ask an Expert

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Roberto Corporation was organized on January 1, 2011. The firm was authorized to issue 100,000 shares of $5 par common stock. During 2011, 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 2011?

A. $270,000.

B. $300,000.

C. 250,000.

D. $200,000.

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Accounting Basics, Accounting

Category:- Accounting Basics
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