Ask Question
12 November, 00:05

Belton, Inc. had the following transactions in 2018, its first year of operations:• Issued 33,000 shares of common stock. Stock has par value of $1.00 per share and was issued at $24.00per share.• Earned net income of $73,000.• Paid no dividends. At the end of 2018, what is the total amount of paid-in capital? A) $792,000 B) $33,000 C) $73,000 D) $865,000

+1
Answers (1)
  1. 12 November, 00:17
    0
    A) $792,000

    Explanation:

    33,000 shares of common stock

    issued at:

    market value 24 dollars

    face vale 1 dollar

    additional paid-in 23 per share

    Equity:

    Common Stock

    33,000 shares x 1 = 33,000

    Additional Paid-in capital

    33,000 shares x 23 = 759,000

    Total capital 792,000

    The total paid-in capital will be the sum of both, the common stock and the paid-in capital in excess of par.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Belton, Inc. had the following transactions in 2018, its first year of operations:• Issued 33,000 shares of common stock. Stock has par ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers