Victoria’s Secret was organized on January 1, with an authorization of 2,400,000 shares of $10 par value Common Stock. During the year, Victoria’s Secret had the following common stock transactions: January 4 Issued 120,000 shares @ $12 per share April 8 Issued 240,000 shares @ $14 per share June 9 Issued 72,000 shares @ $20 per share July 29 Purchased 48,000 shares (treasury) @ $20 per share
Victoria’s Secret was organized on January 1, with an authorization of 2,400,000 shares of $10 par value Common Stock. During the year, Victoria’s Secret had the following common stock transactions: January 4 Issued 120,000 shares @ $12 per share April 8 Issued 240,000 shares @ $14 per share June 9 Issued 72,000 shares @ $20 per share July 29 Purchased 48,000 shares (treasury) @ $20 per share
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Victoria’s Secret was organized on January 1, with an authorization of 2,400,000 shares of $10 par value Common Stock. During the year, Victoria’s Secret had the following common stock transactions:
| January 4 | Issued 120,000 shares @ $12 per share |
| April 8 | Issued 240,000 shares @ $14 per share |
| June 9 | Issued 72,000 shares @ $20 per share |
| July 29 | Purchased 48,000 shares (treasury) @ $20 per share |
| December 31 | Sold 48,000 held in treasury @ $24 per share |
The Company had no other transactions affecting additional paid-in capital. At December 31, what is the Total amount of Additional Paid-In Capital (for Common Stock &
Select one:
a. $2,016,000
b. $2,112,000
c. $6,432,000
d. $1,920,000
e. $4,320,000
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