Explanation Paid-in capital refers to total amount paid by the investors on common stock and preferred stock issued to them. Total paid in capital represents the total amount invested by the shareholders, which includes the par value of the stock issued plus any additional paid in capital in excess of par. Excess amount raised from the stock issuance above the par value represents paid-in capital in excess of par. It is given that the common stock par value is $313,000, paid-in capital in excess of par-common stock is $240,000, and preferred stock value is $85,000. Now, calculate the total paid-in capital for Incorporation S as follows: Particulars Amount Common stocks par vale $313,000

Financial Accounting, Student Value Edition Plus MyLab Accounting with Pearson eText -- Access Card Package (12th Edition)

12th Edition

ISBN: 9780134833156

Author: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.

Publisher: PEARSON

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Chapter 10, Problem 10.62Q

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The total paid-in capital for Incorporation S.

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Financial Accounting, Student Value Edition Plus MyLab Accounting with Pearson eText -- Access Card Package (12th Edition)

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The total paid-in capital for Incorporation S.

Solution Summary: The author explains the total paid-in capital for Incorporation S, which includes the par value of the stock issued plus any additional paid in capital in excess of par.

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