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Gekata [30.6K]
3 years ago
11

May, Inc. had the following transactions in 2019, its first year of operations: Issued 22,000 shares of common stock. The stock

has par value of $2.00 per share and was issued at $15.00 per share. Issued 1,800 shares of $120.00 par value preferred stock at par. .Earned net income of $38,000. Paid no dividends. At the end of 2019, what is the total amount of paid- in capital? OA. $546,000 O B. $584,000 O C. $260,000 OD, $330,000
Business
1 answer:
tatuchka [14]3 years ago
6 0

Answer:

The amount of paid-in capital        $

Common stocks (22,000 x $2)      44,000

Preferred stocks (1,800 x $120)     216,000

Amount of paid-in capital               260,000

The correct answer is C

Explanation:

The amount of paid-in capital is the total of paid-in capital of common stocks and paid-in capital of preferred stocks. The paid-in capital of each stock is computed as number of stock multiplied by par value of each stock.

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According to the question,Lachlan Stuart is an intrapreneur who is an employee in a company .He is responsible for methods and ideas development to be ahead of other competing firms.

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2 years ago
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3 years ago
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Answer:

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Explanation:

<em>Overheads are charged to units produced by the means of using an estimated overhead absorption rate. This rate is computed using budgeted overhead and budgeted activity level. </em>

As a result of this, overhead charged to total units product might be over or under absorbed compared to the actual amount incurred.

<em>The under applied overhead implies that the applied overhead is less than the actual overhead. </em>

This implies that the cost of the goods are under valued. Hence, to accurately valued them, the under applied overhead would be added to the cost of the goods.

Cost of goods reported = cost of goods + under applied overhead

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