Question

Weiss Corporation reported the following information at December 31, 2016: Preferred stock, $40 par, 10,000 shares authorized, issued, and outstanding; cumulative; nonparticipating; callable at par value $ 400,000 Common stock, $4 par, 500,000 shares authorized 400,000 Additional paid-in capital - Common 300,000 Retained earnings 150,000 Total stockholders' equity $1,200,000 The total paid in capital is:

Answer 1

Answer:

$1,100,000

Explanation:

Particulars                                                        Amount

Preferred stock, $40 par, 10,000 shares      $400,000

authorized, issued, and outstanding;

cumulative; nonparticipating; callable

at par value

Common stock, $4 par, 500,000                   $400,000

shares authorized  

Additional paid-in capital - Common              $300,000

Total paid in capital                                         $1,100,000