Common Products has just made its first issue of stock. It raised $1.1 million by selling...
Common Products has just made its first issue of stock. It raised $1.1 million by selling 50,000 shares of stock to the public. These are the only shares outstanding. The par value of each share was $2. Complete the following table:
Common Stock (per value)
Additional paid-in capital
Retained earnings
Net common equity $1,400,000
Homework Answers
| $ | ||
| Common Stock (Par value) | (50000*2) | 100,000 |
| Additional Paid in capital | (1,100,000-100,000) | 1,000,000 |
| Retained Earnings | (1,400,000-1,100,000) | 300,000 |
| Net common equity | 1,400,000 |
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