Answer:
$380,300
Explanation:
Paid-in-capital is the amount of cash received from the investors of the company for issuance of stocks. Paid-in-capital is recorded for both common and preferred stock separately. The value st par is recorded separately from the value excess of par of each stock type.
Issue of stock
first issuance
Common stock = 26,000 shares x $5 = $130,000
Add-in capital excess of par- Common shares = 26,000 shares x ( $6.4 - $5 )
Add-in capital excess of par- Common shares = $36,400
second issuance
Common stock = 23,000 shares x $5 = $115,000
Add-in capital excess of par- Common shares = 23,000 shares x ( $9.3 - $5 )
Add-in capital excess of par- Common shares = $98,900
Total Paid-in-capital = ($130,000 + $36,400) + ($115,000 + $98,900)
Total Paid-in-capital = $166,400 + $213,900 = $380,300
