Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on december 31, 2021, the stockholders equity sect

On December 31, 2021, the stockholders equity section of Arizona, Inc., was as follows:...

70.2K

Verified Solution

Question

Accounting

  1. On December 31, 2021, the stockholders equity section of Arizona, Inc., was as follows:

Common stock, par value $5: authorized 50,000 shares;

issued and outstanding 18,000 shares

Additional paid-in-capital $230,000

Retained earnings 450,000

On May 1, 2022, Arizona declared an 8% stock dividend, and accordingly issued additional shares, when the fair value of the stock was $14 per share. For the year ended December 31, 2022, Arizona generated net income of $80,000. The balance of Arizonas retained earnings as of December 31, 2022 should be?

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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Psychology
1.2K views

Dr. Vegapunk thinks that watching anime (Japanese animated shows) decreases social skills in college students. To...

Biology
1.2K views

Transcription and Translation

Physics
1.2K views

A uniform rod of mass m and length L is at rest on smoot surface...

Basic Math
1.2K views

What is the explicit rule for the geometric sequence 3, 12, 48,...?A) f(n)= 9n-1B) f(n)...

Calculus
1.2K views

2 H 4 is a plane Show that your A gives 1 you a plane...

Calculus
1.2K views

Use the graph the answer the question y 5 4 3 2 1 5 4...

Accounting
1.2K views

Sheridan earned $3,000 in wages, incurred $1,000 in unreimbursed employee business expenses, paid $400 as...

Accounting
1.2K views

During its first year of operations, Eastern Data Links Corporation entered into the following transactions...

Accounting
1.2K views

Landen Corporation uses job-order costing. At the beginning of the year, it made the following...

Accounting
1.2K views

Getty Company expects sales for the first three months of next year to be $205,000,...

Accounting
1.2K views

Question 8 3 pts At January 1, Fox Co. had 240,000 common shares and 10,000...

Finance
1.2K views

Question 1 Given a quarterly rate of 2%, calculate the Annual Percentage Rate (APR) and...