What Is the Total Stockholders' Equity Based on the Following

question 197

Multiple Choice

What is the total stockholders' equity based on the following account balances? $\begin{array}{lr}\text { Common Stock } & \$ 2,300,000 \\\text { Paid-In Capital in Excess of Par } & 120,000 \\\text { Retained Earnings } & 570,000 \\\text { Treasury Stock } & 60,000\end{array}$

• A)$2,690,000.
• B)$2,930,000.
• C)$3,050,000.
• D)$2,180,000.

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Definitions:

Wealth

A measure of the value of all the assets of worth owned by a person, community, company, or country.

Land

The solid surface of the earth that is not covered by water, or the property and natural resources found on it, often considered in terms of ownership and use.

Voltaire

An influential French Enlightenment writer, historian, and philosopher known for his wit, his criticism of Christianity, and his advocacy of freedom of speech and religion.

Candide

A satirical novella by Voltaire, first published in 1759, which criticizes the optimism promoted by the philosophies of the Enlightenment, using the naive protagonist, Candide, to explore themes of freedom, happiness, and human suffering.