1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Zielflug [23.3K]
2 years ago
14

Echota Corporation has the following capital stock outstanding at December 31, 2020: 7% Preferred stock, $100 par value, cumulat

ive 15,000 shares issued and outstanding $1,500,000 Common stock, no par, $10 stated value, 500,000 shares authorized, 350,000 shares issued and outstanding 3,500,000 The preferred stock was issued at $120 per share. The common stock was issued at an average per share price of $14. Prepare the paid-in capital section of the balance sheet at December 31, 2020. (Enter the account name only and do not provide the descriptive information provided in the question.)
Business
1 answer:
Sunny_sXe [5.5K]2 years ago
4 0

Answer:

$6,700,000

Explanation:

Preparation of the paid-in capital section of the balance sheet at December 31, 2020.

Paid-in capital section of the balance sheet at December 31, 2020

7% Preferred stock, $100 par value, cumulative15,000 shares issued and outstanding $1,500,000

Add Common stock, no par, $10 stated value, 500,000 shares authorized, 350,000 shares issued andoutstanding 3,500,000

Total capital stock5,000,000

($1,500,000+3,500,000)

Add Additional paid-in capitalIn excess of par—preferred stock$ 300,000

(15,000 shares × $20 )

Add In excess of stated value—common stock1,400,000

(350,000 shares × $4)

Total paid-in capital$6,700,000

Therefore the paid-in capital section of the balance sheet at December 31, 2020 is $6,700,000

You might be interested in
Last year, talent show tickets were sold for $11 each and 400 people attended. it has been determined that an increase of $1 in
tankabanditka [31]

Answer:

Explanation:

4800 - 300 ppl $16

or

4800 - 320 ppl $15

5 0
2 years ago
Match each term below with the description that fits it best. 1. Treasury stock 2. Issued capital stock 3. Outstanding capital s
saw5 [17]

Answer:

1) shares held by the issuer that is shares of Firm A held by Firm A

2) the amount of shares issued by the firm

3) the amount of shares which are circulating in the market (issued less treasury stock)

4) is the amount the governement angency in charge of regulations approved the firm to issue It cannot surpass this ammount without their permission being granted

5) shares at which a down payment has been made but, not paid in full by the potential stockholders

Explanation:

DISCLAMER:

As the options aren't given I define each concept

3 0
2 years ago
Cranston wants a Settlement Option for his beneficiary that will guarantee the beneficiary an income as long as the beneficiary
9966 [12]

Answer:

sry i don't have this questions answers

6 0
2 years ago
Oh, no! The television was finally delivered today, but was left on the porch by the delivery company. When Jamie Lee was finall
stepan [7]

Answer:

Jamie Lee should call her credit card company and ask them to stop payment for the television since the company has refused to accept a return of the television.

Explanation:

The Fair Credit Billing Act is a law that protects customers from different types of disputed charges. According to this law an individual has the right to stop the payment of a service he/she is not completely satisfied with.

This law protects a customer from unfair billing practices such as errors in calculation, wrong address. This law only applies to customers that have a credit card. This law is very important because it enables a customer to withhold payment for displeased services.

6 0
3 years ago
In 2007, the economy slipped in a recession that many called the worst since the Great Depression. This caused people to experie
Elis [28]

Answer:

an increase in equilibrium price and an indeterminate effect on equilibrium quantity.

Explanation:

An inferior good is a good whose demand increases when income falls and reduces when income rises.

If ramen is an inferior good, when income falls its demand would increase. This would lead to a rise in quantity and price.

An increase in the price of wheat would increase the cost of production of ramen. As a result, the supply of ramen would fall. Price would increase and supply would fall.

The combined effect would be an increase in equilibrium price but an indeterminate effect on equilibrium quantity.

I hope my answer helps you

3 0
3 years ago
Other questions:
  • Arbitration places a dispute before a third party for a binding settlement. true or false
    11·1 answer
  • In a formal business document, a works cited list usually appears
    7·1 answer
  • Market Indicators are employed in-
    10·1 answer
  • The decisions you make at work typically have obvious answers.
    14·2 answers
  • Darian has a gourmet cupcake business and needs a website to compete with the other bakeries in his area. He has a Google My Bus
    8·1 answer
  • Additional data: 1. Dividends declared and paid were $25,400. 2. During the year, equipment was sold for $8,700 cash. This equip
    8·1 answer
  • Dodge, Incorporated acquires 15% of Gates Corporation on January 1, 2011, for $105,000 when the book value of Gates was $600,000
    7·1 answer
  • रचनात्मक र नविन्तम अबधारण लेख्नुहोस। नयाँ ब्यब्साय विभिन्न विधि हरु ब्य्ख्य गर्नुहोस​
    15·1 answer
  • Taxes represent __________ of the business. Multiple Choice an equity liability a cash inflow a cash outflow an accounts receiva
    13·1 answer
  • horizontal integration through m&a can help firms strengthen their competitive position by increasing the differentiation of
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!