Financial statements for Rogan Company are given below:
Total assets on the balance sheet at December 31, 2008 are $2,216,000. Accumulated deprecia-tion on the equipment sold was $112,000.
-Capital stock (plus any additional paid-in capital) at December 31, 2008 was
A) $800,000.
B) $920,000.
C) $520,000.
D) $1,240,000.

Question

Financial statements for Rogan Company are given below:
   Total assets on the balance sheet at December 31, 2008 are $2,216,000. Accumulated deprecia-tion on the equipment sold was $112,000.
-Capital stock (plus any additional paid-in capital) at December 31, 2008 was
A) $800,000. 
B) $920,000. 
C) $520,000. 
D) $1,240,000.

Quizplus · Accepted Answer

$920,000 + $320,000 = $1,240,000.

Financial Statements for Rogan Company Are Given Below