Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Kedzie Corporation was organized on January 1, 2019, with an authorization of 5,000,000 shares of $2 par value common stock. During 2019, Kedzie had the
Kedzie Corporation was organized on January 1, 2019, with an authorization of 5,000,000 shares of $2 par value common stock. During 2019, Kedzie had the following common stock transactions: Jan. 4: Apr. 8: July 29: Issued 300,000 shares of common stock @ $16 per share. Issued 100,000 shares of common stock @ $12 per share. Purchased 20,000 shares of common stock for the Treasury at $10 / share Kedzie had no other transactions affecting common stock during the year. What will be the reported amount of Common Stock and APIC-CS, respectively, on the Company's December 31, 2019 Balance Sheet? Select one: O a. 6,000,000; 0 b. 600,000; 5,200,000 O c. 760,000; 5,040,000 d. 800,000; 5,200,000
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