Story Corp was incorporated as a new business on January 1 The company is authorized to issue 20,000 shares of $5 par value common stock and 10,000 shares of 6 , $10 par value, cumulative, participating preferred stock On January 1, the company issued 8,000 shares of common stock for $15 per share ...

Calculation of Total Contributed capital Total contr ...

Story Corp was incorporated as a new business on January 1. The company is authorized to issue

Question:

Story Corp was incorporated as a new business on January 1. The company is authorized to issue 20,000 shares of $5 and 10,000 shares of 6%, $10 cumulative, participating preferred stock. On January 1, the company issued 8,000 shares of for $15 per share and 2,000 shares of preferred stock for $30 per share. Net income for the year ended December 31 was $375,000.
What is the amount of Story’s total contributed capital at December 31?

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...