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On May 10, a company issued for cash 1,500 shares of no-par common stock (with a stated value of $2) at $14, and on May
On May 10, a company issued for cash 1,500 shares of no-par common stock (with a stated value of $2) at $14, and on May 15, it issued for cash 2,000 shares of $15 par preferred stock at $58. What is the amount of paid-in capital in stated value at May 10 and paid-in capital in excess of par at May 15, assuming that the common stock is to be credited with the stated value? Oa. May 10, $21,000, May 15: $116,000 b. May 10: $18,000, May 15: $86,000 c. May 10 $3,000, May 15: $30,000 d. May 10 $15,000; May 15: $56,000 Addison, Inc. uses a perpetual inventory system. Below is information about one inventory item for the month of September. Sep. 1 Inventory 4 Sold 10 Purchased 17 Sold 30 Purchased 20 units at $20 10 units. 30 units at $25 20 units 10 units at $30 If Addison uses the weighted average cost method, calculate the inventory balance at the end of September
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