Coronado Corporation’s December 31, 2020 balance sheet showed the following:9% preferred stock, $20 par value, cumulative, 15100 shares authorized; 5100 shares issued$ 102000Common stock, $10 par value, 1010000 shares authorized; 960000 shares issued, 930000 shares outstanding9600000Paid-in capital in excess of par—preferred stock28000Paid-in capital in excess of par—common stock11460000Retained earnings3790000Treasury stock (15100 shares)317100Coronado’s total paid-in capital was $20872900. $11240000. $21190000. $21507100.

Total Paid In Capital is Total amount received from stockholders Par Value + Excess of Par value…

Answered: Coronado’s total paid-in capital was…

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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Coronado Corporation’s December 31, 2020 balance sheet showed the following:

9% preferred stock, $20 par value, cumulative, 15100 shares
authorized; 5100 shares issued	$ 102000
Common stock, $10 par value, 1010000 shares authorized;
960000 shares issued, 930000 shares outstanding	9600000
Paid-in capital in excess of par—preferred stock	28000
Paid-in capital in excess of par—common stock	11460000
Retained earnings	3790000
Treasury stock (15100 shares)	317100

Coronado’s total paid-in capital was

$20872900.

$11240000.

$21190000.

$21507100.

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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