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1) Lerner Company had the following transactions in 2015, its first year of operations. Issued 20,000 shares of common stock. Stock has par value of
1) Lerner Company had the following transactions in 2015, its first year of operations. Issued 20,000 shares of common stock. Stock has par value of $1.00 per share and was issued at $14.00 per share. Issued 1,000 shares of $100 par value preferred stock. Shares were issued at par. Earned net income of $35,000, Paid no dividends. At the end of 2015, what is the total amount of paid-in capital?
1) Lerner Company had the following transactions in 2015, its first year of operations. Issued 20,000 shares of common stock. Stock has par value of $1.00 per share and was issued at $14.00 per share. Issued 1,000 shares of $100 par value preferred stock. Shares were issued at par. Earned net income of $35,000, Paid no dividends. At the end of 2015, what is the total amount of paid-in capital?
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