Hideo Co. was organized on January 1, 2021, with 300,000 shares of common stock with a $6 par value authorized. During 2021, Hideo had the following stock transactions: January 4Issued 60,000 shares at $10 per share.March 8Issued 20,000 shares at $11 per share.May 17Purchased 7,500 shares at $12 per share.July 6Issued 15,000 shares at $13 per share.August 27Sold 5,000 treasury shares at $14 per share.If Hideo uses the cost method to record treasury stock transactions, the total amount of additional paid-in capital at December 31, 2021 is:

Cost method of treasury stock is simple as it considers the cost that is paid to repurchase that…

Answered: Hideo Co. was organized on January 1,…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Hideo Co. was organized on January 1, 2021, with 300,000 shares of common stock with a $6 par value authorized. During 2021, Hideo had the following stock transactions:

January 4	Issued 60,000 shares at $10 per share.
March 8	Issued 20,000 shares at $11 per share.
May 17	Purchased 7,500 shares at $12 per share.
July 6	Issued 15,000 shares at $13 per share.
August 27	Sold 5,000 treasury shares at $14 per share.

If Hideo uses the cost method to record treasury stock transactions, the total amount of additional paid-in capital at December 31, 2021 is:

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