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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
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?
a. $ 1410000.
b. $ 2265000.
c. $-0-.
d. $ 1875000.
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