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Tolkin Corporation was organized on January 1, 2013, with an authorization of 5,000,000 shares of $1 par value common stock. During 2013, Tolkin had the
Tolkin Corporation was organized on January 1, 2013, with an authorization of 5,000,000 shares of $1 par value common stock. During 2013, Tolkin had the following common stock transactions: Jan. 4: Issued 300,000 shares @$8 per share. Apr. 8: Issued 100,000 shares @ $6 per share. July 29: Purchased 90,000 shares (treasury @ $7 per share. Oct. 18: Sold 60,000 shares held in treasury @ $9 per share. Dec. 31: Sold 30,000 shares held in treasury $6 per share. Tolkin had no other transactions affecting paid-in capital. At December 31, 2013, what is the total amount of paid-in capital? Select one: $3, 120,000 $3, 090,000 $2, 660,000 $2, 720,000 None of the above
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