Bramble Corporation’s December 31, 2021 balance sheet showed the following:9% preferred stock, $20 par value, cumulative, 14600 shares authorized; 9600 shares issued $ 192000Common stock, $10 par value, 970000 shares authorized; 945000 shares issued, 929800 shares outstanding 9450000Paid-in capital in excess of par—preferred stock 30000Paid-in capital in excess of par—common stock 11480000Retained earnings 3770000Treasury stock (15200 shares) 319200What is Bramble’s total paid-in capital?

Total paid-in capital is the total amount received from the stockholders in exchange of stock.…

Answered: Bramble Corporation’s December 31, 2021…

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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Bramble Corporation’s December 31, 2021 balance sheet showed the following:

9% preferred stock, $20 par value, cumulative, 14600 shares authorized; 9600 shares issued		$ 192000
Common stock, $10 par value, 970000 shares authorized; 945000 shares issued, 929800 shares outstanding		9450000
Paid-in capital in excess of par—preferred stock		30000
Paid-in capital in excess of par—common stock		11480000
Retained earnings		3770000
Treasury stock (15200 shares)		319200

What is Bramble’s total paid-in capital?

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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