User Account

All Pages

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

Reference no: EM132609966

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?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Blue co an architectural firm has a bookkeeper who

blue co. an architectural firm has a bookkeeper who maintains a cash receipts and disbursement journal. at the end of

  Determine taxable income assuming pretax accounting

For each situation, determine taxable income assuming pretax accounting income is $100 million.

  What will be the new break-even point

Budgeted production and sales for the year are 10,000 units. What will be the new break-even point, to the nearest whole unit

  Present the balance sheet in common-size form round your

problem 13-11a common-size statements and financial ratios for creditors lo1 lo3 lo4modern building supply sells

  Describe the type of budget or budgeting process

Describe the type of budget or budgeting process used in your place of business. If not working, use a past job or experience with a volunteer organization

  Develop strategy map that describes company performance

Using that information, develop a strategy map that describes the company's performance

  Prepare schedule for each month budgeted cash disbursements

Cash production costs are budgeted at $6 per unit produced. Prepare a schedule for each month showing budgeted cash disbursements for Edwards Company

  Auerbach enterprises manufactures air conditioners

Auerbach Enterprises manufactures air conditioners for automobiles and trucks manufactured throughout North America. The company has two main products MaxiFlow and Alaska. MaxiFlow uses a few complex fabricated parts that have been found easy to a..

  Calculate the value of debt biomedics

Calculate the value of debt Biomedics will need to issue to maintain their target capital structure. What will be appropriate cost of debt for Biomedics?

  Prepare the journal entry to reflect the initial investment

Required: Prepare the journal entry to reflect the initial $86,000 investment under each of the options (a), (b), and (c)

  Find the amount left in the account

Nou'man saved RM 25,000 at 8% compounded monthly. Two years later, he withdrew RM 14,000 from the saving. Find the amount left in the account

  Prepare the journal entries to update depreciation

Carlton Company sells office equipment on September 30, 2010, for $24,412 cash. Prepare the journal entries to Update depreciation

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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