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G. Jones Corporation was organized on January 1, 2017, with authorized capital of 1,000,000 shares of $10 par value common stock. During 2017, Jones issued 40,000 shares at $12 per share, purchased 4,000 shares of treasury stock at $13 per share, and sold 4,000 shares of treasury stock at $14 per share. What is the amount of additional paid-in capital at December 31, 2017

Respuesta :

letmeanswer

$84000 of additional capital

Explanation:

The given data:

Authorized capital = 1,000,000 shares, par value of common stock = $10, number of shares issued= 40,000 at the rate of $12 per share, number of shares purchased = 4000 at $13, number of shares sold = 4000 at $14 per share

The following calculation is to be made in order to calculate the additional amount of paid- in – capital at the December 31,2017

[tex](40000)(\$ 12 \text { minus } \$ 10)+(4000)(\$ 14-\$ 13)[/tex] = $84000

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