Klug Corporation reported the following information at December 31:   Preferred stock, $10 par, 10,000 shares authorized, issued, and outstanding; cumulative; nonparticipating; callable at par value $ 100,000 Common stock, $1 par, 500,000 shares authorized 100,000 Additional paid-in capital - Common 25,000 Retained earnings     75,000 Total stockholders' equity $300,000   The total contributed capital is:   A. $225,000   B. $  75,000   C. $175,000   D. $  25,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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QUESTION 2

  1. Klug Corporation reported the following information at December 31:

     

    Preferred stock, $10 par, 10,000 shares authorized, issued, and outstanding; cumulative; nonparticipating; callable at par value

    $ 100,000

    Common stock, $1 par, 500,000 shares authorized

    100,000

    Additional paid-in capital - Common

    25,000

    Retained earnings

        75,000

    Total stockholders' equity

    $300,000

     

    The total contributed capital is:

      A.

    $225,000

      B.

    $  75,000

      C.

    $175,000

      D.

    $  25,000

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