Blossom Corporation was organized on January 1, 2026 with the authorization of 1330000 shares of common stock with a par val of $6 per share. In 2026, the corporation had the following capital transactions: January 5 issued 665000 shares @ $10 per share July 28 purchased 79000 shares @ $12 per share December 31 sold the 79000 shares held in treasury @ $20 per share Blossom used the cost method to record the purchase and the reissuance of the treasury shares. What is the total amount of additional paid-in capital as of December 31, 2026? $3292000. ○ $-0-. O $2041000. O $2660000.

Blossom Corporation was organized on January 1, 2026 with the authorization of 1330000 shares of common stock with a par val of $6 per share. In 2026, the corporation had the following capital transactions: January 5 issued 665000 shares @ $10 per share July 28 purchased 79000 shares @ $12 per share December 31 sold the 79000 shares held in treasury @ $20 per share Blossom used the cost method to record the purchase and the reissuance of the treasury shares. What is the total amount of additional paid-in capital as of December 31, 2026? $3292000. ○ $-0-. O $2041000. O $2660000.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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