ABC Corporation was organized on January 3, 2014, with authorized capital of 100,000 shares of...
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ABC Corporation was organized on January 3, 2014, with authorized capital of 100,000 shares of $10 par common stock. During 2014, Oleander had the
following transactions affecting stockholders' equity:
January 7--Issued 40,000 shares at $12 per share
December 2--Purchased 6,000 shares of treasury stock at $13 per share
The cost method was used to record the treasury stock transaction. Oleander's net income for 2014 is $300,000.
What is the amount of stockholders' equity at December 31, 2014?
leate ABC Corporation was organized on January 3, 2014, with authorized capital of 100,000 shares of $10 par common stock. During 2014, Oleander had the
following transactions affecting stockholders' equity:
January 7--Issued 40,000 shares at $12 per share
December 2--Purchased 6,000 shares of treasury stock at $13 per share
The cost method was used to record the treasury stock transaction. Oleander's net income for 2014 is $300,000.
What is the amount of stockholders' equity at December 31, 2014?
$708,000
$720,000
$640,000
$702,000
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