On January 1,2011 Gucci Brothers Inc.had a $500,000 credit balance in retained earnings and $600,000 balance in contributed capital.During 2011,the company earned net income of $100,000,declared a dividend of $15,000,and issued additional stock for $25,000.What is total stockholders' equity on December 31,2011?

Question

Quizplus · Accepted Answer

Stockholders' equity on December 31, 2011 = $1,210,000 = $500,000 + $600,000 + $100,000 - $15,000 + $25,000