Poodle Corporation was organized on January 3, 2024. The firm was authorized to issue 96,000 shares of $5 par common stock. During 2024, Poodle had the following transactions relating to shareholders' equity: Issued 21,000 shares of common stock at $7.10 per share. Issued 16,000 shares of common stock at $9.10 per share. Reported net income of $91,000. Paid dividends of $51,000. What is total paid-in capital at the end of 2024?
Poodle Corporation was organized on January 3, 2024. The firm was authorized to issue 96,000 shares of $5 par common stock. During 2024, Poodle had the following transactions relating to shareholders' equity: Issued 21,000 shares of common stock at $7.10 per share. Issued 16,000 shares of common stock at $9.10 per share. Reported net income of $91,000. Paid dividends of $51,000. What is total paid-in capital at the end of 2024?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 5MC: Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par...
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Poodle Corporation was organized on January 3, 2024. The firm was authorized to issue 96,000 shares of $5 par common stock. During 2024, Poodle had the following transactions relating to shareholders' equity:
Issued 21,000 shares of common stock at $7.10 per share.
Issued 16,000 shares of common stock at $9.10 per share.
Reported net income of $91,000.
Paid dividends of $51,000.
What is total paid-in capital at the end of 2024?
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