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Swifty Corporation was organized on January 1, 2021, with an authorization of 1250000 shares of common stock with a par value of $6 per share.
Swifty Corporation was organized on January 1, 2021, with an authorization of 1250000 shares of common stock with a par value of $6 per share. During 2021, the corporation had the following capital transactions:
January 5 | issued 625000 shares @ $9 per share |
July 28 | purchased 78000 shares @ $11 per share |
December 31 | sold the 78000 shares held in treasury @ $16 per share |
Swifty used the cost method to record the purchase and reissuance of the treasury shares. What is the total amount of additional paid-in capital as of December 31, 2021?
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