Bramble Corporation’s December 31, 2020 balance sheet showed the following:7% preferred stock, $20 par value, 18300 shares authorized; 13300 shares issued$ 266000Common stock, $10 par value, 1930000 shares authorized; 1880000 shares issued, 1860000 shares outstanding18800000Paid-in capital in excess of par—preferred stock59500Paid-in capital in excess of par—common stock24900000Retained earnings7670000Treasury stock (19800 shares)623700Bramble’s total stockholders’ equity was$44051800.$51695500.$52331800.$51071800.

Introduction: The amount of assets remaining once all liabilities have been paid is referred to as…

Answered: Bramble Corporation’s December 31, 2020…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Bramble Corporation’s December 31, 2020 balance sheet showed the following:

7% preferred stock, $20 par value, 18300 shares
authorized; 13300 shares issued	$ 266000
Common stock, $10 par value, 1930000 shares authorized;
1880000 shares issued, 1860000 shares outstanding	18800000
Paid-in capital in excess of par—preferred stock	59500
Paid-in capital in excess of par—common stock	24900000
Retained earnings	7670000
Treasury stock (19800 shares)	623700

Bramble’s total stockholders’ equity was

$44051800.

$51695500.

$52331800.

$51071800.

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