Niles Corporation was organized on January 1, 2019 with an authorization of 5,000,000 shares of $2 par value common stock During 2019, Niles had the following common stock transactions Jan 4 Issued 100,000 shares of common stock $15 per share Apr 8 Issued 150,000 shares of common stock $12 per share July 29 Purchased 25,000 shares of common stock for the Treasury at $8 share Niles 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 0 a 450,000 2,650,000 b 3,300,000 0 c 300,000, 2 800,000) d 500,000 2,800,000

Question

Niles Corporation was organized on January 1, 2019 with an authorization of 5,000,000 shares of $2 par value common stock  During 2019, Niles had the following common stock transactions Jan 4 Issued 100,000 shares of common stock   $15 per share  Apr  8  Issued 150,000 shares of common stock   $12 per share  July 29  Purchased 25,000 shares of common stock for the Treasury at $8 share Niles 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  0 a  450,000  2,650,000 b  3,300,000 0 c  300,000, 2 800,000) d  500,000  2,800,000

Accepted Answer

The Answer is in the image, click to view ...

Question

Niles Corporation was organized on January 1, 2019-with an authorization of 5,000,000 shares of $2 par value common stock. During 2019, Niles had the following

Step by Step Solution

Step: 1

Get Instant Access to Expert-Tailored Solutions

Step: 2

Step: 3

Ace Your Homework with AI