高顿题库

全部习题

练习与模考能力评估我的练习

当前位置：高顿题库 >题目详情

题目解析

Newton Corporation was organized on January 1, year 1. On that date it issued 200,000 shares of its $10 par value common stock at $15 per share (400,000 shares were authorized). During the period January 1, year 1, through December 31, year 4, Newton reported net income of $750,000 and paid cash dividends of $380,000. On January 5, year 4, Newton purchased 12,000 shares of its common stock at $12 per share. On December 31, year 4, 8,000 treasury shares were sold at $8 per share. Newton used the cost method of accounting for treasury shares. What is the total stockholders’ equity of Newton as of December 31, year 4?
A. $3,290,000

B. $3,370,000

C. $3,338,000

D. $3,306,000

答案解析：

登录之后可查看解析

A is corrent. The effect of each transaction on stockholders’ equity would be

		Effect
1/1/Y1	200,000 shares issued for $15	$3,000,000
Y1-Y4	Net income	750,000
Y1-Y4	Dividends	(380,000)
1/5/Y4	Purchased 12,000 treasury shares at $12	(144,000)
12/31/Y4	Sell treasury shares at $8
	Decrease in treasury stock account	96,000
	Decrease in additional paid-in capital	(32,000)
12/31/Y4	Stockholders’ equity	$3,290,000

Thus, total stockholders’ equity is $3,290,000.

B is incorrect. The effect of each transaction on stockholders’ equity would be

		Effect
1/1/Y1	200,000 shares issued for $15	$3,000,000
Y1-Y4	Net income	750,000
Y1-Y4	Dividends	(380,000)
1/5/Y4	Purchased 12,000 treasury shares at $12	(144,000)
12/31/Y4	Sell treasury shares at $8
	Decrease in treasury stock account	96,000
	Decrease in additional paid-in capital	(32,000)
12/31/Y4	Stockholders’ equity	$3,290,000

Thus, total stockholders’ equity is $3,290,000.

C is incorrect. The effect of each transaction on stockholders’ equity would be

		Effect
1/1/Y1	200,000 shares issued for $15	$3,000,000
Y1-Y4	Net income	750,000
Y1-Y4	Dividends	(380,000)
1/5/Y4	Purchased 12,000 treasury shares at $12	(144,000)
12/31/Y4	Sell treasury shares at $8
	Decrease in treasury stock account	96,000
	Decrease in additional paid-in capital	(32,000)
12/31/Y4	Stockholders’ equity	$3,290,000

Thus, total stockholders’ equity is $3,290,000.

D is incorrect. The effect of each transaction on stockholders’ equity would be

		Effect
1/1/Y1	200,000 shares issued for $15	$3,000,000
Y1-Y4	Net income	750,000
Y1-Y4	Dividends	(380,000)
1/5/Y4	Purchased 12,000 treasury shares at $12	(144,000)
12/31/Y4	Sell treasury shares at $8
	Decrease in treasury stock account	96,000
	Decrease in additional paid-in capital	(32,000)
12/31/Y4	Stockholders’ equity	$3,290,000

Thus, total stockholders’ equity is $3,290,000.

统计：共计2人答过，平均正确率50%
问题：进入高顿部落发帖帮助

相似题型

论坛精华更多>>

题库APP下载更多>>

关注我们

微信号：gaoduntiku

高顿网校

我的课程

最近学习

高顿题库

题目解析

相似题型

热门网课更多>>

论坛精华更多>>

题库APP下载更多>>

关注我们

高顿网校试题纠错

同学

加入你感兴趣的讨论群

售前咨询(9:00-21:00)

售后咨询(9:00-21:00)

请把您的意见告诉我们