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For the current year ended, ABC had the following transactions:
1. Issued 10,000 shares of $2 par common stock for $12 per share. Issued 3,000 shares of $50 par, 6% preferred stock for $70 per share.
2. Purchased 1,000 shares of previously issued common stock for $15 per share.
3. Reported net income of $200,000. Declared and paid a total dividend of $40,000.
4. Assume that retained earnings had a beginning balance of $75,000.
Required:
a. Match the following amounts to the appropriate term.
Term:
i. Excess of issue price over par (preferred)
ii. Excess of issue price over par (common)
iii. Common stock
iv. Preferred stock
Amounts:
O $20,000
O $60,000 O $100,000
O $150,000

Respuesta :

Answer:

Explanation:

Base on the scenario been described in the question, the correct answer is: 20,000– Common Stock, 235,000– Retained Earnings, 100,000– Additional Paid in Capital - Common Stock, $150,000– Preferred Stock, 550,000– Total Stockholders Equity, 60,000– Additional Paid in Capital - Preferred Stock.

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