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
Calculate the project's net present value (NPV). Calculate the project's internal rate of return (IRR). Calculate the project's profitability index. Calculate the project's di
In their analysis, Padgett and Spurrier  postulated  a  Weibull  W (ζ, β)  distribu- tion model with parameters ζ = 2.0 and β = 2.5 for the phenomenon in question. Validate th
What are the essential characteristics that make an item a liability? What is the theoretically correct way to value liabilities how are current liabilities usually valued?
What is the net cost of the machine for capital budgeting purposes? (That is, what is the year 0 net cash flow?) What are the net operating cash flows in Years 1,2, and 3? Wha
A storage tank acquired at the beginning of the fiscal year at a cost of $172,000 has an estimated residual value of $20,000 and an estimated useful life of eight years. Deter
Dollar-Value LIFO Retail Springsteen Corporation adopted the dollar-value LIFO retail inventory method on January 1, 2009. At that time the inventory had a cost of $54,000 and
What is the confidence interval on Research in Motion's beta? What proportion of each stock's risk was market risk, and what proportion was specific risk? What is the variance
Rey uses the method prescribed in Part 1b, what adjusting journal entry must be made to recognize bad debts expense on June 30, 2012? (Round your intermediate calculation to