What is total shareholders'' equity at the end of 2009


Roberto Corporation was organized on January 1, 2009. The firm was authorized to issue 100,000 shares of $5 par common stock. During 2009, Roberto had the following transactions relating to shareholders' equity:

Issued 10,000 shares of common stock at $7 per share.
Issued 20,000 shares of common stock at $8 per share.
Reported a net income of $100,000.
Paid dividends of $50,000.
Purchased 3,000 shares of treasury stock at $10 (part of the 20,000 shares issued at $8).

What is total shareholders' equity at the end of 2009?

 

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Accounting Basics: What is total shareholders'' equity at the end of 2009
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