ABC Corporations December 31 2017 balance sheet showed the f

ABC Corporation\'s December 31, 2017 balance sheet showed the following 8% preferred stock, $20 par value, cumulative, 30,000 shares authorized; 20,000 shares issued $ 400,000 Common stock, $10 par value, 2,000,000 shares authorized; Paid-in capital in excess of par-preferred stock Paid-in capital in excess of par-common stock Retained earnings Treasury stock (30,000 shares) What is ABC Corporations\' total paid in capital? 1,950,000 shares issued, 1,920,000 shares outstanding 19,500,000 60,000 27,000,000o 7,500,000 630,000

Solution

Answer

8% Preferred Stock

$             400,000.00

Common Stock

$       19,500,000.00

Paid in Capital in excess of Par - Preferred Stock

$               60,000.00

Paid in Capital in excess of Par - Common Stock

$       27,000,000.00

Total Paid in Capital

$       46,960,000.00

Retained Earnings

$         7,500,000.00

$       54,460,000.00

Treasury Stock

$          (630,000.00)

Total Stockholder\'s Equity

$       53,830,000.00

8% Preferred Stock	$             400,000.00
Common Stock	$       19,500,000.00
Paid in Capital in excess of Par - Preferred Stock	$               60,000.00
Paid in Capital in excess of Par - Common Stock	$       27,000,000.00
Total Paid in Capital	$       46,960,000.00
Retained Earnings	$         7,500,000.00
	$       54,460,000.00
Treasury Stock	$          (630,000.00)
Total Stockholder\'s Equity	$       53,830,000.00