Total Stockholders’ Equity
Hello this is my problem case.
I am doing something wrong here… and I am not sure what am I overlooking
This is the question
Using the following accounts and balances, prepare the Stockholders’ Equity section of the balance sheet. Thirty thousand shares of common stock are authorized, and 2,000 shares have been reacquired
Common stock $80 par $2,000.000
Paid-In Capital in Excess of Par $ 315,000
Paid-In Capital from Sale of Treasury Stock $ 33,000
Retained Earnings $1,112,000
Treasury Stock $ 180,000
What is the total stockholders equity?
a) $3,280,000
b) $2,315,000
c) $3,460,000
d) $2,348,000
Please tell me what am i doing wrong.
And this is my work
Paid in capital:
Common stock, $80 par $2,000.00
Excess of issue price over par $315,000 $315,000
From sale of Treasury Stock $33,000
Total paid in capital $348,000
Retained Earnings $1,112,000
Total $1,460,000
Deduct treasury stock $180,000
Total stockholders’ Equity ‘ $1,280,000.
What is the total stockholders equity?
And my answer is $1,280,000
I did this again and I still cannot match the answer
Stockholders Equity
Common Stock 30,000 shares authorized; 25,000
Issued and outstanding at par of $80 $2,000,000
Paid in Capital in Excess of Par 315,000
Treasury Stock (213,000)
Retained Earnings 1,112,000
Total Equity $3,214,000
PLEASE HELP
