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The Information That Follows Pertains to Stockholders' Equity Data of Delano

Question 152

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The information that follows pertains to stockholders' equity data of Delano Corporation on December 31,20xx.Compute the amount of each item indicated by a letter in the listing below.
 Par value per common share $10 Balance of Common Stock account $150,000No. of shares authorized 20,000 No. of shares issued and outstanding a Balance of Additional Paid-in Capital account  $b Balance of Retained Earnings account$80,000Total contributed capital$ cTotal stockholders’ equity$300,000\begin{array}{llr} \text { Par value per common share } &\$10\\ \text { Balance of Common Stock account } &\$150,000\\ \text {No. of shares authorized } &20,000\\ \text { No. of shares issued and outstanding } & \text {a}\\\\ \text { Balance of Additional Paid-in Capital account }&\text { \$b } \\\\\text {Balance of Retained Earnings account}&\$80,000\\\text {Total contributed capital}&\$ \text { c}\\\text {Total stockholders' equity}& \$ 300,000 \end{array}

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a.15,000 shares ($150,000 ÷ $1...

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