Total paid-in capital amount

Assignment Help Accounting Basics
Reference no: EM13136163

Adler Corporation has 50,000 shares of $10 par common stock authorized. The following transactions took place during 2008, the first year of the corporation's existence:

Sold 5,000 shares of common stock for $18 per share.

Issued 5,000 shares of common stock in exchange for a patent valued at $100,000.

At the end of the Adler's first year, total paid-in capital amounted to:

a. $40,000.

b. $90,000.

c. $100,000.

d. $190,000.

Reference no: EM13136163

Questions Cloud

Presidential and parliamentary : In your own words, can you explain the advantages and disadvantages of the Presidential system in the United States and the Parliamentary system of the United Kingdom?
Calculate the number of grams of kclo3 needed : Calculate the number of grams of KClO3 needed to make 400 mL of 0.913 M solution.
Simon is the majority shareholder : Simon is the majority shareholder and managing director of Slowgo Pty Ltd which operates a chain of discount stores. Slowgo has very few assets and is not in a position to pay its debts.
Probability that randomly selected truck drivers are women : What's the probability that fewer than 2 of the randomly selected truck drivers are women? What is the expected number of women in a random selection of 20 truck drivers?
Total paid-in capital amount : Adler Corporation has 50,000 shares of $10 par common stock authorized. The following transactions took place during 2008, the first year of the corporation's existence:
Case study "delivering benefits" : answering these to questions on the Case Study "Delivering Benefits" in Human Resource management.Question 1. 1. Why is having multiple health-care plans important for FedEx in slowing down increases in the cost of benefits?
Calculate the average atomic mass of argon : Three isotopes of argon occur in nature - 36Ar, 38Ar, 40Ar. Calculate the average atomic mass of argon to two decimal places, given the following relative atomic masses and the abundances of each of the isotopes: argon
Public use for profit : Discuss the relevancy of this case to the charge of the adverse impact caused by activist judges on the American political system. You might want to read the dissent opinion by former Justice Sandra Day O'Connor and you may address the aftermath
What are the critical deficiencies : ­Do you think the recommendations put forth in the Exposure Draft are likely to be successful or not? If successful, what are the most significant attributes? If not successful, what are the critical deficiencies?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Budgeted cost of merchandise

Gross margin is typically 40% of sales. Determine the budgeted cost of merchandise purchases for July.

  Assets and liabilities from transaction

CalCount pays a weekly payroll of $85,000 that includes federal taxes withheld of $12,700, FICA taxes withheld of $7,890, and 401(k) withholdings of $9,000. What is the effect of assets and liabilities from this transaction?

  Purchase on income before income taxes

What would be the effect of this purchase on income before income taxes? (Leave no cells blank - be certain to select "No effect" wherever required. Omit the "tiny_mce_markerquot; sign in your response.)

  Materials and labour budget revisions

Discuss each request below for a budget revision, putting what you see as both sides of the argument and reach a conclusion as to whether a budget revision should be allowed.

  What are the budget implications for sheldon allman

At the beginning of the school year, Sheldon Allman decided to prepare a cash budget for the months of September, October, November, and December. The following information relates to the budget.

  Polaris ltd is a public company

Polaris Ltd is a public company which is listed on the Australian Securities Exchange and has numerous small shareholders. Polaris Ltd owns 35% of the issued ordinary shares of Beta Ltd. The remaining shares of Beta Ltd are widely distributed among n..

  Bonds to maturity problem

A company paid $37,800 plus a broker's fee of $525 to acquire 8% bonds with a $40,000 maturity value. The company intends to hold the bonds to maturity. The cash proceeds the company will receive when the bonds mature equal:

  Warehouse with an adjusted basis

Latisha owns a warehouse with an adjusted basis of $112,000. She exchanges it for a strip mall building worth $150,000. Which of the following statements is correct?

  Speculate foreign currency within fiscal year

The transaction gain or loss to be recognized over the term of a forward exchange contract entered into to speculate in a foreign currency within a fiscal year is measured by the difference between the:

  Balance sheet total for retained earnings

A for-profit nursing home has beginning-of-period retained earnings of $40,000. Net income for the period totals $75,000 and dividends declared during the period total $15,000. The balance sheet total for retained earnings will be what amount?

  Journal entry of bond redemption

The balance sheet for Reading Company reports the following information on July 1, 2010. Reading decides to redeem these bonds at 102 after paying annual interest. Prepare the journal entry to record the redemption on July 1, 2010.

  Determine the amount of retained earnings

a. Journalize the entries required to complete the closing of the accounts. b. Determine the amount of Retained Earnings at the end of the period.

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