Wendell Company Provided the Following Pertaining to Its Recent Year

question 84

Multiple Choice

Wendell Company provided the following pertaining to its recent year of operation:
Common stock with a $10,000 par value was sold for $50,000 cash.
Cash dividends totaling $20,000 were declared,of which $15,000 were paid.
Net income was $70,000.
A 5% stock dividend resulted in a common stock distribution,which had a $5,000 par value and a $23,000 market value.
Treasury stock costing $9,000 was sold for $7,000.
How much did Wendell's capital in excess of par increase during the recent year of operation?

• A)$60,000
• B)$58,000
• C)$67,000
• D)$24,000

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Definitions:

Depression

Depression is a common and serious mood disorder that negatively affects how you feel, think, and handle daily activities.

Happiness

A condition of being well that is marked by feelings that vary from satisfaction to profound happiness.

Positive Emotions

Emotions that are experienced as pleasant and desirable, such as joy, gratitude, serenity, and love, contributing to overall well-being.

Early Hours

Refers to the first part of the day, usually the period shortly after midnight or dawn when it is still early morning.