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At December 31, Idaho Company Had the Following Ending Account

Question 151

Multiple Choice

At December 31, Idaho Company had the following ending account balances: ​
Retained Earnings: $250,000
Preferred Stock ($100 par, 7% cumulative, 10,000 authorized, 5,000 issued and outstanding) : $500,000
Treasury Stock: $40,000
Paid-In Capital in Excess of Par-Common Stock: $625,000
Paid-In Capital in Excess of Par-Preferred Stock: $50,000
Common Stock ($5 par value, 500,000 shares authorized, 105,000 issued) : $525,000

What is the total amount of paid-in capital that would be reported on the statement of stockholders' equity at December 31?


A) $1,150,000
B) $1,700,000
C) $1,950,000
D) $1,910,000

Correct Answer:

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