The Total Equity of Timberlake Company at the Beginning of 2013

question 11

Multiple Choice

The total equity of Timberlake Company at the beginning of 2013 amounted to $5,500. During 2013 the company reported net income of $1,800 and paid a $500 dividend. If retained earnings at the end of 2013 is $2,200, what was beginning common stock?

• A)$3,300
• B)$2,800
• C)$1,300
• D)$4,600

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