What total amount should be credited

Assignment Help Accounting Basics
Reference no: EM132280291

Question - In 2017, Marigold Corp., issued for $102 per share, 86000 shares of $100 par value convertible preferred stock. One share of preferred stock can be converted into three shares of Marigold's $25 par value common stock at the option of the preferred stockholder. In August 2018, all of the preferred stock was converted into common stock. The market value of the common stock at the date of the conversion was $30 per share. What total amount should be credited to additional paid-in capital from common stock as a result of the conversion of the preferred stock into common stock?

$2150000.

$2322000.

$1332000.

$1032000.

Reference no: EM132280291

Computing estimated cost of missing inventory

A physical inventory taken on December 31, 2010, resulted in an ending inventory of $700,000. Keen"s gross profit on sales has remained constant at 25% in recent years. Keen

Classify the financial statement items

Classify the financial statement items based upon the major balance sheet classifications.- Current assets Stockholders' equityLong-term liabilitiesIntangible assetsCurrent l

Problem regarding the coldstrem trade account

A payment by copdstream traders of £240 with £50 discount allowed had been correctly recorded in the cash book of farha, but incorrectly recorded in coldstrem trade account.

What costs are relevant for making decisions

The president of North Short Railroad wants to obtain an overview of the company's operations, particularly with respect to comparing freight and passenger business.

Financial reporting problem

The financial statements of P&G are presented in Appendix 5B. The company's complete annual report, including the notes to the financial statements, can be accessed at the b

Acc 562 and 575 strategy that you plan to recommend congress

DISCUSSION 1 Going Concern" Please respond to the following: • From the e-Activity, analyze the auditor’s responsibility to determine if a company can continue as a going conc

Income distribution of a partnership

Kay Katz and Doris Kan are partners in a dry-cleaning business. The partnership agreement specifies the manner in which income of the business is to be distributed. Kay is t

Keep unemployment and inflation low

Two important policy goals of the government and the Fed are to keep unemployment and inflation low, while at the same time making sure that GDP is increasing at an average

Reviews

Write a Review

 
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd