Auto Corporation had the following stockholders\' equity balances as of March 31
ID: 2442358 • Letter: A
Question
Auto Corporation had the following stockholders' equity balances as of March 31:Common Stock..........................................$200,000
Contributed Capital in Excess of Par................50,000
Treasury Stock (Par value method).................75,000
Appropriated Retained Earnings......................30,000
Retained Earnings........................................140,000
Determine the following:
Total Total
Retained earnings Stockholders' equityQuestion 4 options:
a. $140,000 $345,000
b. $170,000 $345,000
c.$170,000 $495,000
d. $345,000 $180,000
please show work
Explanation / Answer
Retained earnings 140,000 Appropriated Retained earnings 30,000 Tatal RE 170,000 Common stock 200,000 Paid in Cap exc of par 50,000 Less Treasury Stock (75,000) Total Stockholder's Equity 345,000 b.
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