Wendell Company Provided the Following Pertaining to Its Recent Year

question 66

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 total stockholders' equity increase during the recent year of operation?

• A)$107,000
• B)$84,000
• C)$80,000
• D)$112,000

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Definitions:

European Goods

Products manufactured in Europe that were historically traded or brought to other regions, often influencing global trade patterns and local economies.

Racism

Prejudice, discrimination, or antagonism directed against someone of a different race based on the belief that one's own race is superior.

Colonies

Territories under the political and economic control of another country, often established during periods of exploration and exploitation.

North American Slave Trade

The transatlantic trade that transported African peoples to North America primarily to serve as enslaved laborers, largely ending in the early 19th century though slavery itself was not abolished until later.