Paid-in capital at the end
Course:- Accounting Basics
Reference No.:- EM13149049

Assignment Help
Assignment Help >> Accounting Basics

Poodle Corporation was organized on January 3, 2011. The firm was authorized to issue 100,000 shares of $5 par common stock. During 2011, Poodle had the following transactions relating to shareholders' equity:

Issued 30,000 shares of common stock at $7 per share.

Issued 20,000 shares of common stock at $8 per share.

Reported a net income of $100,000.

Paid dividends of $50,000.

What is total Paid-in capital at the end of 2011?

A. $420,000.

B. $370,000.

C. $470,000.

D. $320,000.

Put your comment

Ask Question & Get Answers from Experts
Browse some more (Accounting Basics) Materials
Indicate the three ways that Bret attempted to conceal the theft and the dollar amount involved in each method. What principles of internal control were violated in this case?
An amusement park spends $350,000 each year in consulting services for ride inspection. New actuator element technology enables engineers to simulate complex computer-contro
From this week's reading, you were introduced to the concept of unearned revenue and prepaid expenses. Imagine that you are CFO of a company that manufacturers picture frame
(a) What is the term used to describe the owner’s equity section of a corporation? (b) Identify the two owners’ equity accounts in a corporation and indicate the purpose of ea
Prepare summary journal entries to record the requisition slips, time tickets, the assignment of manufacturing overhead to jobs, and the completion of Job No. 329. Show comput
Attached is a project that has 7 questions that need to be populated on the excel file that is also in this file. Include both calculations and written explanations. All cal
Discuss the mistakes made by the company and their leadership. Discuss the steps leadership could have taken to prevent or mitigate the repercussions. Explain the role of mark
Compute depletion and depreciation of the mine and the mining facilities and equipment for 2011 and 2012. Marion uses the units-of-production method to determine depreciation