Poodle Corporation was organized on January 3, 2021. The firm was authorized to issue 80,000 shares of $5 par common stock. During 2021, Poodle had the following transactions relating to shareholders' equity: Issued 24,000 shares of common stock at $6.60 per share. Issued 12,000 shares of common stock at $9.40 per share. Reported net income of $108,000. Paid dividends of $41,000. What is total paid-in capital at the end of 2021? $272,700. $379,200. $230,200. $271,200.

Poodle Corporation was organized on January 3, 2021. The firm was authorized to issue 80,000 shares of $5 par common stock. During 2021, Poodle had the following transactions relating to shareholders' equity: Issued 24,000 shares of common stock at $6.60 per share. Issued 12,000 shares of common stock at $9.40 per share. Reported net income of $108,000. Paid dividends of $41,000. What is total paid-in capital at the end of 2021? $272,700. $379,200. $230,200. $271,200.

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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