E connect ACCOUNTING Ch. 18 Test Questi 10.00 points MC Qu. 27 LO 18-01, 18-04,

Question

E connect ACCOUNTING Ch. 18 Test Questi 10.00 points MC Qu. 27 LO 18-01, 18-04, 18-05, 18-06 Roberto Corporation was.. Roberto Corporation was organized on January 1, 2016. The firm was authorized to issue 92,000 shares of $5 par common stock. During 2016, Roberto had the following transactions relating to shareholders' equity ssued 9100 shares of common stock at $6.40 per share. Issued 20,000 shares of common stock at $9.40 per share Reported a net income of $105,000 Paid dividends of $41,000 Purchased 3,000 shares ot treasury stock at $11.40 (part of the 20,000 shares issued at $9.40 What is total shareholders' equity at the end of 2016? O $276.040 $282,840, O $317040 O $279,040 References Multiple Choice MC Ou 27 LO 18-01, 1804, 18-05, t8-06 Roberto Corpor TOSHIBA esc

Explanation / Answer

Calculate total stockholder's equity :

so answer is a) $276040

Common stock (29100*5) 145500 Additional paid in capital (9100*1.4+20000*4.4) 100740 Total paid in capital 246240 Retained earnings 64000 Total 310240 Less: Treasury stock (3000*11.40) (34200) Shareholder's equity 276040

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