Determine the ending balances for Paid-in Capital, Retained Earnings, and Stockholders' Equity. Paid-in Capital Retained Earnings Stockholders' Equity On January 1, 2020, Agassi Corporation had the following stockholders' equity accounts. Common Stock ($10 par value, 50,000 shares issued and outstanding) $500,000
Paid-in Capital in Excess of Par-Common Stock $12,000
Retained Earnings 635,000
During 2020, the following transactions occurred. Jan. 15 Declared and paid a $1.05 cash dividend per share to stockholders.
Apr. 15 Declared and paid a 10% stock dividend.
May 15 Reacquired 1,900 common shares at a market price of $16 per share.
Nov. 15 Reissued 950 shares held in treasury at a price of $18 per share. Dec. 31 Determined that net income for the year was $376,000.