[Solved] For the Current Year Ended, Abc Had the Following Transactions: -

Question 164
Short Answer

For the current year ended, ABC had the following transactions: - Issued 10,000 shares of $2.00 par value common stock for $12.00 per share.- Issued 3,000 shares of $50 par value 6% preferred stock for $70 per share.- Purchased 1,000 shares of previously issued common stock for $15.00 per share.- Reported net income of $200,000.- Declared and paid a total dividend of $40,000.​ Assume that retained earnings had a beginning balance of $75,000.The company does not have any stock outstanding as of the beginning of the current year.​ a.Treasury stock b.Retained earnings c.Preferred stock d.Excess of issue price over par (preferred)e.Common stock f.Total paid-in capital g.Excess of issue price over par (common)h.Total stockholders' equity -$235,000

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