At December 31, Idaho Company had the following ending account balances: Retained Earnings: $250,000 Preferred Stock ($100 par, 7% cumulative, 10,000 authorized, 5,000 issued and outstanding): $500,000 Treasury Stock: $40,000 Paid-In Capital in Excess of Par—Common Stock: $625,000 Paid-In Capital in Excess of Par—Preferred Stock: $50,000 Common Stock ($5 par value, 500,000 shares authorized, 105,000 issued): $525,000 What is the total amount of paid-in capital that would be reported on the statement of stockholders’ equity at December 31? a.$1,150,000 b.$1,700,000 c.$1,910,000 d.$1,950,000
At December 31, Idaho Company had the following ending account balances: Retained Earnings: $250,000 Preferred Stock ($100 par, 7% cumulative, 10,000 authorized, 5,000 issued and outstanding): $500,000 Treasury Stock: $40,000 Paid-In Capital in Excess of Par—Common Stock: $625,000 Paid-In Capital in Excess of Par—Preferred Stock: $50,000 Common Stock ($5 par value, 500,000 shares authorized, 105,000 issued): $525,000 What is the total amount of paid-in capital that would be reported on the statement of stockholders’ equity at December 31? a.$1,150,000 b.$1,700,000 c.$1,910,000 d.$1,950,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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At December 31, Idaho Company had the following ending account balances:
| Paid-In Capital in Excess of Par—Common Stock: $625,000 |
| Paid-In Capital in Excess of Par—Preferred Stock: $50,000 |
| Common Stock ($5 par value, 500,000 shares authorized, 105,000 issued): $525,000 |
What is the total amount of paid-in capital that would be reported on the statement of
a.$1,150,000
b.$1,700,000
c.$1,910,000
d.$1,950,000
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