This company reported the following information in the stockholders\' equity sec
ID: 2460788 • Letter: T
Question
This company reported the following information in the stockholders' equity section of its December 31, 2014, balance sheet: IVa Cumulative, Non-participating Preferred Stock, S100 par, 500 $50,000 shares authorized, issued, and outstanding, callable at par value Refer to Landmark Company. If the company repurchased 500 shares of its common stock for S20 per share, what is tire amount of total stockholders' equity after this transaction $1,494,000 $1,490,000 $1,500,000. $1,510,000 Common Stock, $12 par, 100,000 shares authorized Paid-in Capital in Excess of Par-Common Stock Retained Earnings 600,000 25,000 825,000Explanation / Answer
Preferred stock
$50,000
Common stock
600,000
Paid in capital in excess of par
25,000
Retained earnings
825,000
Less: Treasury stock(500*20)
-10,000
total
$1,490,000
Option B
Preferred stock
$50,000
Common stock
600,000
Paid in capital in excess of par
25,000
Retained earnings
825,000
Less: Treasury stock(500*20)
-10,000
total
$1,490,000