1. On July 1, 2021, an interest payment date, $151000 of Vaughn Manufacturing bonds were converted into 3070 shares of Vaughn Manufacturing common stock each having a par value of $45 and a market value of $56. There is $5300 unamortized discount on the bonds. Using the book value method, Vaughn would record

A. $7550 increase in paid-in capital in excess of par.

B. no change in paid-in capital in excess of par.

C, $26220 increase in paid-in capital in excess of par.

D. $20920 increase in paid-in capital in excess of par.

2. In 2020, Sheffield Corp., issued for $102 per share, 97000 shares of $100 par value convertible preferred stock. One share of preferred stock can be converted into three shares of Sheffield's $20 par value common stock at the option of the preferred stockholder. In August 2021, all of the preferred stock was converted into common stock. The market value of the common stock at the date of the conversion was $25 per share. What total amount should be credited to additional paid-in capital from common stock as a result of the conversion of the preferred stock into common stock? A. $2619000

B.$3084000

C.$4074000

D.$3880000

3. Coronado Industries had 796000 shares of common stock outstanding on January 1, issued 126000 shares on May 1, purchased 63000 shares of treasury stock on September 1, and issued 60000 shares on November 1. The weighted average shares outstanding for the year is

A. 911000

B. 869000

C.848000

D.890000