Question

Warren Corporation was organized on January 1, 2014, with an authorization of 500,000 shares of common stock ($5 par value per share). During 2014, the company had the following capital transactions:
January 5 Issued 100,000 shares at $5 per share
April 6 Issued 50,000 shares at $7 per share
June 8 Issued 15,000 shares at $10 per share
July 28 Purchased 25,000 shares at $4 per share
December 31 Sold 25,000 shares held in treasury at $8 per share

Required:
What should be the balance in the Additional paid-in capital account at December 31, 2014?



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  • CreatedSeptember 10, 2014
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