### What is the total amount of additional paid-in capital

Assignment Help Accounting Basics
##### Reference no: EM132609966

Question - Percy Corporation was organized on January 1, 2021, with an authorization of 1,200,000 shares of common stock with a par value of \$6 per share. During 2021, the corporation had the following capital transactions:

January 5 issued 600,000 shares @ \$10 per share

July 28 purchased 80,000 shares @ \$11 per share

December 31 sold the 80,000 shares held in treasury @ \$18 per share

Percy used the cost method to record the purchase and reissuance of the treasury shares. What is the total amount of additional paid-in capital as of January 5, 2021?

a. \$0

b. \$1,840,000

c. \$2,400,000

d. \$2,960,000

#### Questions Cloud

 Course on pregnancy and conception for young couples : Locate and read a current journal article (within the last five years) that discusses any treatment of sexual dysfunction Definition of cyber security : A definition of cyber security ; further explain how cyber security differs from enterprise security Which provides all the correct rates for material overhead : Which choice below provides ALL the correct rates for material overhead, engineering overhead, manufacturing overhead and G&A (in that same order)? What was the percentage change in net income : A company reported \$175,000 of net income for 2020, \$245,000 for 2021, and \$220,500 for 2022. What was the percentage change in net income What is the total amount of additional paid-in capital : Percy used the cost method to record the purchase and reissuance of the treasury shares. What is the total amount of additional paid-in capital Cloud-based assets : Cloud-based assets include any resources accessed via the cloud. Storing data in the cloud increases risks so additional steps may be necessary to protect data How much cash Colson distribute to the common stockholders : Colson Inc. declared a \$230,000 cash dividend. It is one year in arrears on its preferred stock. How much cash will Colson distribute to the common stockholders Methodology use for selecting winner proposal : Analyze the selection criteria and methodology use for selecting a winner proposal. Which type of analysis would perform : You're solicited for the appropriate timelines, but only one offer was received. No other exceptions to TINA apply. Which type of analysis would you perform?

### Write a Review

#### Moran owns a building he bought during year 0 for 230000 he

moran owns a building he bought during year 0 for 230000. he sold the building in year 6. during the time he held the

#### Last year 2013 richter condos installed a mechanized

last year 2013 richter condos installed a mechanized elevator for its tenants. the owner of the company ron richter

#### Employer received a pier report from the cra

In May of the current year, your employer received a PIER report from the CRA that identified Canada Pension Plan (CPP) contribution deficiencies for employees in the organization who:

#### How much revenue and gross profit should hawkins recognize

Hawkins Construction Co. has a \$60 million contract to construct a highway overpass and cloverleaf. The total estimated cost for the project is \$50 million.

#### Determine the adjustments that ilmanov would make

Determine the adjustments that Ilmanov would make in 2011 and 2012 to reconcile net income and stockholders' equity under U.S. GAAP to IFRS

#### Analyzing the operations of three anonymous companies

A family friend has asked your help in analyzing the operations of three anonymous companies operating in the same service sector industry

#### Discuss the approximate market price per share

how many shares of stock will be outstanding, and what will be the approximate market price per share

#### Ifrs and accounting consensus

Write a 1-2 page research summary on the document below authored by Sunder. Focus your paper on Sunder's five key elements of consensus for common accounting standards for multinationals.

#### How much could you withdraw at the end of each of years

Suppose you earned a \$145,000 bonus this year and invested it at 8.25% per year. How much could you withdraw at the end of each of the next 20 years

#### Prepare journal entries to record total cash dividend

Prepare journal entries to record the following: A total cash dividend of \$90,000 was declared and payable to stockholders of record

#### By how much annual profits be increased or decreased

A special order has received for 5,000 rockets at special price of \$10 per unit. If order is accepted, by how much annual profits be increased or ecreased

#### Boyles home center a retailing company has two departments

boyles home center a retailing company has two departments bath and kitchen. the companys most recent monthly