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?
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?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
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