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 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 the total shareholders equity at the end of 2009?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M991487

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