Question 25 1. The following selected list of accounts with their normal balance

Question

Question 25
1.
The following selected list of accounts with their normal balances was taken from the general ledger of Tudor Company as of December 31, 2011:
Common stock, $1 par $ 190,000
Retained earnings 131,000
Paid-in capital in excess of par - preferred 35,000
Treasury Stock 165,000
Preferred stock, $100 par 300,000
Paid-in capital in excess of par -common 380,000

Given above information, at the end of 2011:
Answer

A. Total Paid in Capital is $1,070,000, and Total Stockholders' equity is $1,201,000

B. Total Paid in Capital is $905,000, and Total Stockholders' equity is $871,000

C. Total Paid in Capital is $740,000, and Total Stockholders' equity is $871,000

D. Total Paid in Capital is $740,000, and Total Stockholders' equity is $609,000

Explanation / Answer

B. Total Paid in Capital is $905,000, and Total Stockholders' equity is $871,000 (treasury stock is subtracted to get total stockholder's equity)

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