On December 31,2013,TTX reported owners' equity of $150,000.During 2014,TTX declared and paid cash dividends of $30,000; reported a net loss of $15,000; issued additional common shares (no par)for $70,000; and purchased treasury stock at a cost of $15,000 (cash),Therefore,the 2014 ending amount of shareholders' equity was:

Question

Quizplus · Accepted Answer

The ending equity is calculated as: Beginning equity ($150,000) - Dividends ($30,000) - Net loss ($15,000) + Issued shares ($70,000) - Treasury stock ($15,000) = $160,000.

On December 31,2013,TTX Reported Owners' Equity of $150,000