The following information is available for ConocoPhillips on December 31, 2022: $651,000 840,000 756,000 $2,247,000 Common Stock, $1.75 par, 400,000 shares authorized Additional Paid in Capital - Common Stock Retained Earnings Total Stockholders' Equity During 2023, ConocoPhillips completed these transactions (in chronological order): 1) Declared and issued a 2.0% stock dividend on the outstanding stock. At that time, the stock was quoted at a market price of $20 per share. 2) Issued 2,400 shares of common stock at the price of $18 per share. 3) Net Income for the year was $410,400. Determine the ending balance in the Additional Paid in Capital - Common Stock account on December 31, 2023: Select one: a. $975,780 b. $879,000 c. $1,032,000 d. $1,025,000 e. $1,014,780
The following information is available for ConocoPhillips on December 31, 2022: $651,000 840,000 756,000 $2,247,000 Common Stock, $1.75 par, 400,000 shares authorized Additional Paid in Capital - Common Stock Retained Earnings Total Stockholders' Equity During 2023, ConocoPhillips completed these transactions (in chronological order): 1) Declared and issued a 2.0% stock dividend on the outstanding stock. At that time, the stock was quoted at a market price of $20 per share. 2) Issued 2,400 shares of common stock at the price of $18 per share. 3) Net Income for the year was $410,400. Determine the ending balance in the Additional Paid in Capital - Common Stock account on December 31, 2023: Select one: a. $975,780 b. $879,000 c. $1,032,000 d. $1,025,000 e. $1,014,780
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Munabhai
Transcribed Image Text:The following information is available for ConocoPhillips on December 31, 2022:
Common Stock, $1.75 par, 400,000 shares authorized
$651,000
Additional Paid in Capital - Common Stock
840,000
Retained Earnings
756,000
Total Stockholders' Equity
$2,247,000
During 2023, ConocoPhillips completed these transactions (in chronological order):
1) Declared and issued a 2.0% stock dividend on the outstanding stock. At that time, the stock was quoted at a
market price of $20 per share.
2) Issued 2,400 shares of common stock at the price of $18 per share.
3) Net Income for the year was $410,400.
Determine the ending balance in the Additional Paid in Capital - Common Stock account on December 31, 2023:
Select one:
a. $975,780
b. $879,000
c. $1,032,000
d. $1,025,000
e. $1,014,780
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