Question

Entity I had the following accounts: Common stock, $1 par, 1,000 shares authorized, 750 shares issued,...

  1. Entity I had the following accounts:
    Common stock, $1 par, 1,000 shares authorized, 750 shares
    issued, 700 shares outstanding $ 750
    Paid-in-capital in excess of par 37,500
    Treasury stock (50 shares at cost) 3,000
    Retained earnings 250,000


    What is Total Stockholders’ Equity?

    $291,250

    none of the above

    $288,250

    $285,250
Business   Accounting   
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Answer #1

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Correct option is: D. $285,250
Workings:
Balance sheet
(Stockholder's Equity Section)
Stockholder's Equity:
Common stock $                 750
Additional Paid - in - Capital $           37,500
Total Paid - in Capital $           38,250
Retained earnings $       2,50,000
Treasury Stock $           -3,000
Total Stockholder's Equity $       2,85,250
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