37 Jansen Packaging Corporation began business in 2015 by is

37. Jansen Packaging Corporation began business in 2015 by issuing 40,000 shares of $5 par par. At common stock for $8 per share and 10,000 shares of 6%, $10 par preferred stock for year end, the common stock had a market value of $10. On its December 31, 2015 balance sheet, Jansen Packaging would report A) Common Stock of $400,000. B) Common Stock of $200,000. C) D) Common Stock of $320,000. Paid-In Capital of $300,000 Ise the following to answer questions 38-39: he Ice Corporation issues 30,000 shares of $50 par value preferred stock for cash at $60 per share.

Solution

The Answer is \"B\"

B. Commom Stock of $200000.

Stockholder\'s Equity :-

Particulars	Amount ($)	Amount ($)
6% Preferred Stock(10000*$10)	100000
Common Stock(40000*$5)	200000
Total Capital Stock		300000
Additional Paid - in capital
Paid in Capital in Excess of Par, Common Stock
(40000*($8-$5))	120000
Total Additional Paid - in Capital		120000
Total Paid in Capital		420000