097 On December 31 Y10 Mima Inc had the following balances i

097. On December 31, Y10, Mima Inc. had the following balances in its stockholders\' equity accounts: Common stock, $50,000 (10,000 shares of $5 par value stock); additional paid-in capital, $100,000; and retained earnings, $50,000. Total shareholder\'s equity as of December 31, Y10 is: $90,000 B. $200,000 C. $270,000 D. $290,000 15 of 16

Solution

SOLUTION

Total stockholder\'s equity as of December 31, Y10 is - $200,000

Total stockholder\'s equity = Common stock + Additional paid in capital + Retained Earnings

= $50,000 + $100,000 + $50,000

= $200,000