Question
Sosa Co.'s stockholders' equity at January 1, 2015, is as follows: Common stock, $10 par value; authorized 300,000 shares; Outstanding 225,000 shares $2,250,000 Paid-in capital
Sosa Co.'s stockholders' equity at January 1, 2015, is as follows: Common stock, $10 par value; authorized 300,000 shares; Outstanding 225,000 shares $2,250,000 Paid-in capital in excess of par 700,000 Retained earnings 2,190,000 Total $5,140,000 During 2015 Sosa had the following stock transactions: Acquired 6,000 shares of its stock for $270,000 Sold 3,600 treasury shares at $50 a share Sold the remaining treasury shares at $41 per share No other stock transactions occurred during 2015. Assuming Sosa uses the cost method to record treasury stock transactions, the total amount of all additional paid-in capital accounts at December 31, 2015, is _____
a $691,600
b $670,000
c $708,400
d $727,600
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