Orlando Corporation incorporated on January 2 of the current year. During the year, Orlando had the following transactions: • Issued 20,000 shares of common stock at $25 per share. The par value per share is $1. • Purchased 1,000 shares of treasury stock at $27 per share. • No dividends were declared during the year. • The net income of $400,000. What is the total amount of stockholders' equity as of December 31 of the current year? A. $500,000 B. $900,000 C. $527,000 O D. $873,000

Orlando Corporation incorporated on January 2 of the current year. During the year, Orlando had the following transactions: • Issued 20,000 shares of common stock at $25 per share. The par value per share is $1. • Purchased 1,000 shares of treasury stock at $27 per share. • No dividends were declared during the year. • The net income of $400,000. What is the total amount of stockholders' equity as of December 31 of the current year? A. $500,000 B. $900,000 C. $527,000 O D. $873,000

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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