Question

Marigold Corporation's December 31, 2020 balance sheet showed the following: 6% preferred stock, $20 par value, cumulative, 40000 shares authorized; 21000 shares issued $ 420000 Common stock, $10 par value, 3,000,000 shares authorized; 1,950,000 shares issued, 1,920,000 shares outstanding 20000000 Paid-in capital in excess of par value - preferred stock 69000 Paid-in capital in excess of par value - common stock 27500000 Retained earnings 9050000 Treasury stock (30,000 shares) 704000 Marigold's total paid-in capital was

Answer 1

Answer: $‭47,989,000‬

Explanation:

Total Paid-in capital = Preferred stock + Paid-in capital in excess of par value - preferred stock + Common stock +  Paid-in capital in excess of par value - common stock

= 420,000 + 69,000 + 20,000,000 + 27,500,000

= $‭47,989,000‬