Question 18 Nance Corporation\'s December 31, 2017 balance sheet showed the foll

Question

Question 18 Nance Corporation's December 31, 2017 balance sheet showed the following: 6% preferred stock, $20 par value, cumulative, 30000 shares authorized; 20000 shares issued $400000 Common stock, $10 par value,3,000,000 shares authorized; 1,950,000 shares issued, 1,920,000 shares outstanding 19500000 Paid-in capital in excess of par value - preferred stock 60000 28000000 9650000 630000 Paid-in capital in excess of par value - common stock Retained earnings Treasury stock (30,000 shares) Nance's total paid-in capital was a. $47330000. b. $28060000. c. $47960000. d. $48590000. Answer:

Explanation / Answer

Total Paid in capital :

correct option is "C"

Preferred sstock 400000 common stock 19500000 Paid in capital in excess of par -preferred stock 60000 Paid in capital in excess of par -common stock 28000000 Total paid in capitak 47960000

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