Answered step by step
Verified Expert Solution
Question
1 Approved Answer
An analysis of stockholders' equity of Marigold Corp. as of January 1, 2021, is as follows: Common stock, par value $20; authorized 100,000 shares; issued
An analysis of stockholders' equity of Marigold Corp. as of January 1, 2021, is as follows: Common stock, par value $20; authorized 100,000 shares; issued and outstanding 89000 shares $1780000 Paid-in capital in excess of par 890000 Retained earnings 760000 Total $3430000 Marigold uses the cost method of accounting for treasury stock and during 2021 entered into the following transactions: Acquired 2490 shares of its stock for $74700. Sold 1810 treasury shares at $34 per share. Sold the remaining treasury shares at $22 per share. Assuming no other equity transactions occurred during 2021, what should Marigold report at December 31, 2021, as total additional paid-in capital? Hint: Round intermediate calculations to O decimal places, e.g. 5,275. O $884560 O $890000 O $891800 O $902680
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started