In 2021 the first year of business, Banton Company had the following transactions:             •         Issued 30,000 shares of common stock.  Stock had par value of $1.00 per share and was issued at $14.00 per share.           •         Issued 1,000 shares of $100 par value preferred stock.  Shares were issued at par.           •         Earned net income of $35,000.           •         Paid no dividends.   At the end of 2021, what is the total amount of Paid-in capital?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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In 2021 the first year of business, Banton Company had the following transactions:

 

          •         Issued 30,000 shares of common stock.  Stock had par value of $1.00 per share and was issued at $14.00 per share.

          •         Issued 1,000 shares of $100 par value preferred stock.  Shares were issued at par.

          •         Earned net income of $35,000.

          •         Paid no dividends.

 

At the end of 2021, what is the total amount of Paid-in capital?

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