Train Sports recently issued 25,000 shares of its $12 par value common stock for $450,000. Which amounts

Fantastic news! We've Found the answer you've been seeking!

Question:

Train Sports recently issued 25,000 shares of its $12 par value common stock for $450,000. Which amounts represent legal capital and total paid-in capital, respectively?

Related Book For answer-question

Horngrens Financial And Managerial Accounting The Financial Chapters

ISBN: 9780134486840

6th Edition

Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura

See More Books

Posted Date: Mar 08, 2024 12:22 AM

See More Questions

Major Project - Andrew Best - Best Business Solutions Incorporated (BBSI) Andrew Best was a very inquisitive child growing up. He was a great student in school and always asked a lot of questions....
AC Corporations: Dividends, Retained Earnings, and Income Reporting 56. ABC, Inc. has 1,000 shares of 5%, $100 par value, cumulative preferred stock and 50,000 shares of $1 par value common stock...
An ideal differentiator is placed in series with an ideal lowpass filter with a gain of 10 and a cutoff frequency of 25 Hz. Find the overall frequency response and plot its magnitude. H (w) H(w) -...
Outline the traditional problems associated with the flat- file model that are resolved by the database model.
Nishi Corporation prepares financial statements for each month-end. As part of its accounting process, estimated income taxes are accrued each month for 30% of the current month's net income. The...
(Gambler's Ruin) When Cathy and Jill play checkers, each has probability \ of winning. There is never a tie, and the games are independent in the sense that no matter how many games the girls have...
Cat Auto Tech. Corp. purchased 10,000 gift certificates from DeJesus. Cat Auto Tech. Corp., an Amoco gasoline station operator, contracted with DeJesus to make 10,000 gift certificates of various...
Wassons Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are: The company anticipated that the restorers would work a total of 12,000 hours this year....
1. Show that the Ramsey number R(m, n) = R(n, m), for all m 2, n 2 positive integers. 2. Show that the Ramsey number R(3, 4) 10. 3. Show that the Ramsey number R(4, 4) < 20.
Prepare a Cash Receipts budget for July - October DC's Projected Revenues & Expenses Sales Cost of Goods Sold Gross Profit Admin & Selling Costs Net Income before Taxes June 85,000 52,700 32,300...
Solve the following recurrence in closed form. Show all your work. [T(n) = T(n-2) +n for n>2, T(0) =0, T(1) = 2.
Many a political figure advocates making higher income and more wealthy individuals "pay their fair share" in taxes. This is a four part question. 1. What economic meaning can we attached to the...
Not so long ago, the Washington Post contained an advertisement for a stockbroker in which the broker boasted that his recommendations had "beat the market five years in a row." This is a 4 part...
Description Ramesh is given an integer n and a string num. He has to create the smallest number possible by removing n digits from num (the removed digits may or may not be contiguous). The value...
dequeue is a double - ended queue, in which the items can be added to or removed from the head or the tail. The dequeue APIs are shown in the below code. Your task is to write the implementation of...
A 4.5-KW, 100V, and single phase resistance oven is to have ni-chrome wire heating elements. If the wire temperature is to be 500 and that of charge 250, calculate the diameter and length of the...
Fill in each blank so that the resulting statement is true. A solution to a system of linear equations in two variables is an ordered pair that__________ .
Seth's Tax Services had the following accounts and account balances after adjusting entries. Assume all accounts have normal balances. Prepare the adjusted trial balance for Seth's Tax Services as of...
What are the steps in the closing process?
When does a discount on bonds payable occur?
Reconsider the data from Problem 57 (Orpheum Productions lighting enhancement). Assume that any money not invested in the lighting enhancements will be placed in an interest-bearing account earning...
An investor has $$100,000$ to invest in a business venture, or she can earn 10 percent/year with a $$100,000$ certificate of deposit for 4 years. Three possible business ventures have been...
This problem is related to Problem 8. Jeff has $10,000 to invest for a period of 5 years. The following three alternatives are available at his bank: Data from problem 8 Jeff has $10,000 to invest...

Train Sports recently issued 25,000 shares of its $12 par value common stock for $450,000. Which amounts

Question:

Expert Answer:

legal capital and total paidin capital represent different aspects of a companys issu... View the full answer

Horngrens Financial And Managerial Accounting The Financial Chapters

Students also viewed these accounting questions