Tamarisk, Inc.’s December 31, 2020 balance sheet showed the following:6% preferred stock, $10 par value, cumulative, 40000 shares authorized; 15000 shares issued$ 150000Common stock, $10 par value, 4,000,000 shares authorized; 2,600,000 shares issued, 2,560,000 shares outstanding19800000Paid-in capital in excess of par value - preferred stock70000Paid-in capital in excess of par value - common stock28000000Retained earnings9750000Treasury stock (40,000 shares)704000Tamarisk's total paid-in capital was$48020000.$48860000.$20520000.$47180000. Tamarisk, Inc.'s December 31, 2020 balance sheet showed the following:6% preferred stock, $10 par value, cumulative,40000 shares authorized; 15000 shares issued$ 150000Common stock, $10 par value, 4,000,000 sharesauthorized;2,600,000 shares issued, 2,560,000 shares19800000outstandingPaid-in capital in excess of par value - preferred stock70000Paid-in capital in excess of par value - common stock28000000Retained earnings9750000Treasury stock (40,000 shares)704000Tamarisk's total paid-in capital was$48020000.$48860000.$20520000.O $47180000.

Total paid-in capital includes outstanding share capital of common stock, preferred stock, and paid…

Answered: Tamarisk, Inc.’s December 31, 2020…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Tamarisk, Inc.’s December 31, 2020 balance sheet showed the following:

6% preferred stock, $10 par value, cumulative,
40000 shares authorized; 15000 shares issued	$ 150000
Common stock, $10 par value, 4,000,000 shares authorized;
2,600,000 shares issued, 2,560,000 shares outstanding	19800000
Paid-in capital in excess of par value - preferred stock	70000
Paid-in capital in excess of par value - common stock	28000000
Retained earnings	9750000
Treasury stock (40,000 shares)	704000

Tamarisk's total paid-in capital was

$48020000.

$48860000.

$20520000.

$47180000.

Tamarisk, Inc.'s December 31, 2020 balance sheet showed the following:
6% preferred stock, $10 par value, cumulative,
40000 shares authorized; 15000 shares issued
$ 150000
Common stock, $10 par value, 4,000,000 shares
authorized;
2,600,000 shares issued, 2,560,000 shares
19800000
outstanding
Paid-in capital in excess of par value - preferred stock
70000
Paid-in capital in excess of par value - common stock
28000000
Retained earnings
9750000
Treasury stock (40,000 shares)
704000
Tamarisk's total paid-in capital was
$48020000.
$48860000.
$20520000.
O $47180000.

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