Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 52 Not yet answered Marked out of 1.00 Flag question loanna Corporation was organized on January 1, 2019, with an authorization of 2,000,000 shares
Question 52 Not yet answered Marked out of 1.00 Flag question loanna Corporation was organized on January 1, 2019, with an authorization of 2,000,000 shares of $30 par value common stock. During 2019, loanna had the following common stock transactions: Jan. 4: Issued 100,000 shares @ $36 per share. Apr. 8: Issued 200,000 shares @ $42 per share. June 9: Issued 60,000 shares @ $60 per share. July 29: Purchased 40,000 shares (treasury) @ $60 per share. Dec. 31: Sold 40,000 shares held in treasury @ $72 per share. loanna had no other transactions affecting paid-in capital. At December 31, 2019, what is the total amount of paid-in capital? Select one: O A. $10,080,000 O B. $16,080,000 O C.$5,520,000 o D. $4,800,000
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