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May, Inc. had the following transactions in 2019, its first…
May, Inc. had the following transactions in 2019, its first year of operations: Issued 20,000 shares of common stock. The stock has a par value of $3.00 per share and was issued at $19.00 per share. Issued 2000 shares of $200 par value preferred stock at par. Earned net income of $40,000. Paid no dividends. At the end of 2019, what is the total amount of paid-in capital?
May, Inc. had the following transactions in 2019, its first…
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Mаy, Inc. hаd the fоllоwing trаnsactiоns in 2019, its first year of operations: Issued 20,000 shares of common stock. The stock has a par value of $3.00 per share and was issued at $19.00 per share. Issued 2000 shares of $200 par value preferred stock at par. Earned net income of $40,000. Paid no dividends. At the end of 2019, what is the total amount of paid-in capital?
Mаy, Inc. hаd the fоllоwing trаnsactiоns in 2019, its first year of operations: Issued 20,000 shares of common stock. The stock has a par value of $3.00 per share and was issued at $19.00 per share. Issued 2000 shares of $200 par value preferred stock at par. Earned net income of $40,000. Paid no dividends. At the end of 2019, what is the total amount of paid-in capital?