For the current year ended, ABC had the following transactions:
- Issued 10,000 common shares of par value of $2.00 to $12.00 per share.
- Issued 3,000 shares of $50 par value 6% preferred stock at $70 per share.
- Purchased 1,000 previously issued common shares at $15.00 per share.
- Reported net income of $200,000.
- Declared and paid a total dividend of $40,000.

Assume that the retained earnings had a beginning balance of $75,000.

Match the following:

1.$550,000     a. Own shares

2.$15,000        b. Total capital paid in

3.$235,000       c. Total Shareholders' Equity

4.$100,000       d. Excess of issue price over pair (preferred)

5.$330,000       e. Excess of issue price over par (common)

6.$20,000          f. Common Stock

7.$60,000          g. Retained shares

8. $150,000        h. Preferred stock

Answer rating: 100% (QA)

550000 e Excess of issue price over par common 15000 f Common Stock 235000 c Total Shareholders Equi... View the full answer