Presented below are data for Antwerp Corp. Stockholders' Equity at January 1, 2014 is
A) $ 704.
B) $ 760.
C) $1,120.
D) $1,624.

Question

Presented below are data for Antwerp Corp.  Stockholders' Equity at January 1, 2014 is
A) $ 704. 
B) $ 760. 
C) $1,120. 
D) $1,624.

Quizplus · Accepted Answer

We can determine Antwerp Corp.'s Stockholders' Equity at January 1, 2014 by adding up the common stock, additional paid-in capital, retained earnings, and accumulated other comprehensive income:
$480 + $240 + $800 + $600 = $2,120
Then, we subtract the accumulated deficit to get the Stockholders' Equity:
$2,120 - $1,000 = $1,120. Therefore, the answer is C, $1,120.

Presented Below Are Data for Antwerp Corp