Common Stock ( $3 par, 1,500,000 authorized) 1,080,000
APIC Preferred Stock 108,000
APIC Common Stock 840,000
Retained Earnings 936,000
Treasury Stock Common ( $9 cost) 54,000
During 2023, ExxonMobil had the following transactions and events pertaining to its stockholders equity:
March 21: Issued 24,000 shares of Common Stock in exchange for Land. On the date of purchase, the Land had a Fair Market Value of $210,000 and the stock was selling for $11 per share.
April 17: Sold 1,800 shares of Treasury Stock Common for $12 per share.
November 22: Purchased 800 shares of Common Stock for the Treasury at a cost of $7,560.
December 31: Determine that net income for the year was $556,000. Dividends were declared and paid during December. These dividends included a $0.20 per share dividend to common stockholders of record as of December 12. Preferred dividends are one year in arrears.
What is the Total Stockholders Equity as of December 31, 2023?
a. $4,344,648
b. $4,286,328
c. $4,296,800
d. $4,301,840
e. $4,284,048
Answer & Explanation
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