AB 116 WEEK 7 Grade Details - All Questions
Question 1. Question : The following information is available for Mint Corporation:
• Common Stock ($10 par) $1,500,000
• Paid-in Capital in Excess of Par - Preferred $200,000
• Paid-in Capital in Excess of Stated Value - Common $750,000
• Preferred Stock $450,000
• Retained Earnings $800,000
• Treasury Stock - Common $50,000
Based on the preceding information, calculate each of the following:
(a) Total paid-in capital
(b) Total stockholders' equity
Which of the following is correct?
Student Answer: a. Total paid-in capital = $2,450,000
b. Total Stockholders’ equity = $3,600,000
a. Total paid-in capital = $2,700,000
b. Total Stockholders’ equity = $3,600,000
a. Total paid-in capital = $2,900,000
b. Total Stockholders’ equity = $3,650,000
Points Received: 10 of 10
Comments:
USA 
India