Coda Corporation was organized on January 1, 2019, with an authorization of 2,000,000 shares of $5 par value common stock. During 2019, Coda had the following common stock transactions: Jan. 4 Issued 100,000 shares @ $6 per share. Apr. 8: Issued 200,000 shares @ $7 per share. June 9: Issued 60,000 shares @ $10 per share. July 29: Purchased 40,000 shares (treasury) @ $10 per share. Dec. 31: Sold 40,000 shares held in treasury @ $12 per share. Coda had no other transactions affecting contributed capital. At December 31, 2019, what is the total amount of contributed capital? Select one: a. $2,680,000 b. $1,800,000 c. $ 920,000 d. $ 800,000

Coda Corporation was organized on January 1, 2019, with an authorization of 2,000,000 shares of $5 par value common stock. During 2019, Coda had the following common stock transactions: Jan. 4 Issued 100,000 shares @ $6 per share. Apr. 8: Issued 200,000 shares @ $7 per share. June 9: Issued 60,000 shares @ $10 per share. July 29: Purchased 40,000 shares (treasury) @ $10 per share. Dec. 31: Sold 40,000 shares held in treasury @ $12 per share. Coda had no other transactions affecting contributed capital. At December 31, 2019, what is the total amount of contributed capital? Select one: a. $2,680,000 b. $1,800,000 c. $ 920,000 d. $ 800,000

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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