2 3 The shareholders' equity section of Gollum Company's balance sheet at December 31, 2021...
80.2K
Verified Solution
Link Copied!
Question
Accounting
2 3 The shareholders' equity section of Gollum Company's balance sheet at December 31, 2021 was as follows: 5 6 is in millions) 180 Common stock (51 par, authorized 200 million shares, issued and outstanding 180 million shares) Paid-in capital- excess of par Retained earnings 1,080 12 560 Total shareholders' equity $ 1,820 15 On January 5, 2022, Gollum purchased and retired 3 million shares for $9/share. Immediately after retirement of the shares, the balances in the paid-in capital- excess par and retained earnings accounts are 8 Paid-in capital, excess par: $1,053 Retained earnings: $560 Paid-in capital, excess par: $1,060 Retained earnings: $560 Paid-in capital, excess par: $1,062 Retained earnings: $554
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
