Kedzie Corporation was organized on January 1, 2019, with an authorization of 5,000,000 shares of $2 par value common stock. During 2019, Kedzie had the following common stock transactions:   Jan.   4:      Issued 300,000 shares of common stock @ $16 per share. Apr.   8:      Issued 100,000 shares of common stock @ $12 per share. July   29:     Purchased 20,000 shares of common stock for the Treasury at $10 / share   Kedzie had no other transactions affecting common stock during the year.     What will be the reported amount of Common Stock and APIC-CS, respectively, on the Company's December 31, 2019 Balance Sheet?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Kedzie Corporation was organized on January 1, 2019, with an authorization of 5,000,000 shares of $2 par value common stock. During 2019, Kedzie had the following common stock transactions:

 

Jan.   4:      Issued 300,000 shares of common stock @ $16 per share.

Apr.   8:      Issued 100,000 shares of common stock @ $12 per share.

July   29:     Purchased 20,000 shares of common stock for the Treasury at $10 / share

 

Kedzie had no other transactions affecting common stock during the year.  

 

What will be the reported amount of Common Stock and APIC-CS, respectively, on the Company's December 31, 2019 Balance Sheet?

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