CBA Company reported total stockholders' equity of $85,000 on its balance sheet dated December 31,2010.During the year ended December 31,2011,CBA reported net income of $10,000,declared and paid a cash dividend of $2,000,and issued additional common stock for $20,000.What is total stockholders' equity as of December 31,2011?
A)$117,000
B)$113,000
C)$109,000
D)$101,000

Question

Quizplus · Accepted Answer

December 31, 2011 stockholders' equity ($113,000) = December 31, 2010 stockholders' equity ($85,000) + 2011 net income ($10,000) - 2011 dividend declarations ($2,000) + 2011 common stock issued ($20,000)

CBA Company Reported Total Stockholders' Equity of $85,000 on Its