Presented below are data for Bandkok Corp. Stockholders' Equity at January 1, 2015 is
A) $3,832.
B) $2,660.
C) $2,860.
D) $3,940.

Question

Presented below are data for Bandkok Corp.  Stockholders' Equity at January 1, 2015 is
A) $3,832. 
B) $2,660. 
C) $2,860. 
D) $3,940.

Quizplus · Accepted Answer

Stockholders' equity at January 1, 2015 can be calculated as:
Stockholders' Equity, January 1, 2014 (given): $2,190
Add: Common stock issued during 2014: $940
Add: Net income for 2014: $730
Subtract: Dividends declared and paid during 2014: $0
Stockholders' Equity, January 1, 2015 = $2,860.
Therefore, the answer is choice C.

Presented Below Are Data for Bandkok Corp