Question

1. Coronado Corporation’s December 31, 2020 balance sheet showed the following: 7% preferred stock, $20 par...

1. Coronado Corporation’s December 31, 2020 balance sheet showed the following:


7% preferred stock, $20 par value, cumulative, 15300 shares

authorized; 5300 shares issued. $ 106000

Common stock, $10 par value, 1090000 shares authorized;

1040000 shares issued, 1010000 shares outstanding. 10400000

Paid-in capital in excess of par—preferred stock. 29000

Paid-in capital in excess of par—common stock. 11590000

Retained earnings. 3790000

Treasury stock (14800 shares). 310800


Coronado’s total paid-in capital was:

a. $21814200.

b. $22125000.

c. $12175000.

d. $22435800.

2. Swifty Corporation’s December 31, 2020 balance sheet showed the following:

7% preferred stock, $20 par value, cumulative, 10600 shares

authorized; 7600 shares issued $ 152000
Common stock, $10 par value, 1060000 shares authorized;

960000 shares issued, 940000 shares outstanding 9600000

Paid-in capital in excess of par—preferred stock 36000

Paid-in capital in excess of par—common stock 11410000

Retained earnings 3770000

Treasury stock (9933 shares) 312900


Swifty’s total stockholders’ equity was

a. $25285100.

b. $24655100.

c. $24685100.

d. $24706100.

3. Concord Corporation was organized on January 1, 2020, with authorized capital of 493000 shares of $10 par value common stock. During 2020, Concord issued 29400 shares at $11 per share, purchased 3700 shares of treasury stock at $14 per share, and sold 3700 shares of treasury stock at $15 per share. What is the amount of additional paid-in capital at December 31, 2020?

$0

$33100

$29400

$3700

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