Reference no: EM132815300
As of December 31, 2023, Ajax Corporation reported the following:
Salaries payable $25,000;
Treasury stock $400,000;
Paid-in capital--share repurchase $27,000;
Accounts Receivable $54,000;
Other paid-in capital accounts $3,600,000;
Retained earnings $3,010,000; and
a debit balance in Accumulated other comprehensive income of $29,000.
During 2024, half of the treasury stock was resold for $240,000; net income was $714,000; cash dividends declared were $750,000; and stock dividends of $450,000 were declared and distributed (no fractional shares). Hint: Use a T-account to help you organized these facts.
Problem 1: What would total shareholders' equity be as of December 31, 2024?
Option 1: $6,412,000
Option 2: $7,212,000
Option 3: $6,383,000
Option 4: $5,962,000
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What ajax inc treasury stock account shows a balance of
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