Question
Sheffield Corp.'s stockholders' equity at January 1, 2021 is as follows: Common stock, $10 par value; authorized 300,000 shares; Outstanding 243000 shares $2430000 Paid-in capital
Sheffield Corp.'s stockholders' equity at January 1, 2021 is as follows:
Common stock, $10 par value; authorized 300,000 shares;
Outstanding 243000 shares $2430000
Paid-in capital in excess of par 810000
Retained earnings 2180000
______________________
Total$5420000
During 2021, Sheffield had the following stock transactions:
Acquired 6400 shares of its stock for $288000.
Sold 3700 treasury shares at $50 a share.
Sold the remaining treasury shares at $41 per share.
No other stock transactions occurred during 2021. Assuming Sheffield uses the cost method to record treasury stock transactions, the total amount of all additional paid-in capital accounts at December 31, 2021 is?
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