Spridget Company has 1 million shares of common stock authorized with a par value of $3...
Spridget Company has 1 million shares of common stock authorized with a par value of $3 per share, of which 600,000 shares are outstanding. The company received $7 per share when it issued shares to the public.
Required:
What is the book value of the Common stock par account and the Additional paid-in capital account? (Enter your answers in whole dollars rather than millions of dollars.)
Homework Answers
1. Common stock par value (600,000 x $3) = $1,800,000
(outstanding shares * par value)
2. Additional paid-in capital (600,000 X $4) = $2,400,000
(outstanding shares * additional paid in capital)
Additional paid in capital = $7 - $3 = $4
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Spridget Company has 1 million shares of common stock authorized
with a par value of $3...
Spridget Company has 1 million shares of common stock authorized with a par value of $3...
Spridget Company has 1 million shares of common stock authorized with a par value of $3 per share, of which 600,000 shares are outstanding. The company received $7 per share when it issued shares to the public. Required: What is the book value of the Common stock par account and the Additional paid-in capital account? (Enter your answers in whole dollars rather than millions of dollars.) Book value of common stock reported Book value of conting paid for Book value...
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