Amel Corporation was organized on January 1, 2015, with an authorization of 1,200,000 shares of common stock with a par value of P6 per share. During 2015, the corporation had the following capital transactions: Issued 675,000 shares @ P10 per share January 5 July 28 Purchased 90,000 shares @ P11 per share December 31 Sold the 90,000 shares held in treasury @ P18 per share Amel 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 December 31, 2015? O A. None OB. 2,070,000 C. 2,700,000 OD. 3,330,000

Amel Corporation was organized on January 1, 2015, with an authorization of 1,200,000 shares of common stock with a par value of P6 per share. During 2015, the corporation had the following capital transactions: Issued 675,000 shares @ P10 per share January 5 July 28 Purchased 90,000 shares @ P11 per share December 31 Sold the 90,000 shares held in treasury @ P18 per share Amel 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 December 31, 2015? O A. None OB. 2,070,000 C. 2,700,000 OD. 3,330,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 5MC: Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par...

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