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Dwayne Health Snacks has outstanding 6,000 shares of $3 par common stock, which was isssued at...

Dwayne Health Snacks has outstanding 6,000 shares of $3 par common stock, which was isssued at $15 per share, and 2,000 shares of $10 par cumulative preferred stock, which was issued at par. Dwayne Health Snacks also has a deficit balance in Retained Earnings of $26,000. How much is Dwayne’s total stockholders’ equity?
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Answer #1
Stockholder's Equity $ 84,000
Working:
Stockholder's Equity:
Common Stock (6000*3) $       18,000
Paid in Capital in Excess of Par-Common Stock (6000*12) $       72,000
Preferred Stock (2000*10) $       20,000
Retained Earning $     -26,000
Stockholder's Equity $       84,000
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