Homework Answers
Ans
Option D - all the above
Paid-in capital is the amount of capital "paid in" by investors during common or preferred stock issuances, including the par value of the shares themselves plus amounts in excess of par value.Paid-in capital also refers to a line item on the company's balance sheet listed under stockholders' equity, often shown alongside the line item for additional paid-in capital.
Paid in capital of a corporation may arise from
* Issuing cumulative preferred stock
* Receiving donation of real estate
* Selling the treasury stock
Hence the option D all of the above is correct
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Problem 15-07 The books of Bonita Corporation carried the following account balances as of December 31,...
Problem 15-07
The books of Bonita Corporation carried the following account
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Cash
$ 191,000
Preferred Stock (6% cumulative, nonparticipating, $50 par)
300,000
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1,585,000
Paid-in Capital in Excess of Par—Preferred Stock
162,000
Treasury Stock (common 2,800 shares at cost)
32,700
Retained Earnings
110,000
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Problem 15-07
The books of Bonita Corporation carried the following account
balances as of December 31, 2020.
Cash
$ 191,000
Preferred Stock (6% cumulative, nonparticipating, $50 par)
300,000
Common Stock (no-par value, 317,000 shares issued)
1,585,000
Paid-in Capital in Excess of Par—Preferred Stock
162,000
Treasury Stock (common 2,800 shares at cost)
32,700
Retained Earnings
110,000
The company decided not to pay any dividends in 2020.
The board of directors, at their annual meeting on December 21,
2021, declared the following:...
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