A. Roberson Corporation was organized on January 1, 2014, with authorized capital of 750,000 shares of...

A. Roberson Corporation was organized on January 1, 2014, with authorized capital of 750,000 shares of $10 par value common stock. During 2014, Roberson issued 30,000 shares at $12 per share, purchased 3,000 shares of treasury stock at $13 per share, and sold 3,000 shares of treasury stock at $14 per share. What is the amount of Additional paid-in capital on December 31, 2014?

B. Roberson Corporation purchases 3,000 shares of its own $5 par common stock for $8 per share, recording it at cost. What will be the effect on total stockholders' equity?

Please show yr work & explain. Thanks

Solutions

Expert Solution

ekkarill92 answered 9 months ago

Next > < Previous

Related Solutions

Bennis Corporation was organized on January 1, 2014. It is authorized to issue 10,000 shares of...

Bennis Corporation was organized on January 1, 2014. It is authorized to issue 10,000 shares of 8%, $100 par value preferred stock and 500,000 shares of no-par common stock with a stated value of $1 per share. The following stock transactions were completed during the first year. Jan 10- Issued 40,000 shares of common stock for cash at $3.60 per share Mar-1 issued 5,000 shares of preferred stock for cash at $102 per share May-1 Issued 90,000 shares of common...

Kathleen Battle Corporation was organized on January 1, 2014. It is authorized to issue 10,000 shares...

Kathleen Battle Corporation was organized on January 1, 2014. It is authorized to issue 10,000 shares of 8%, $100 par value preferred stock, and 500,000 shares of no-par common stock with a stated value of $1 per share. The following stock transactions were completed during the first year Jan 10. Issued 80,000 shares of common stock for cash at $5 per share Mar 1, Issued 5,000 shares of preferred stock for cash at $108 per share April 1 Issued 24,000...

In January 2014, Vanowski Corporation was organized and authorized to issue 2,000,000 shares of no-par common...

In January 2014, Vanowski Corporation was organized and authorized to issue 2,000,000 shares of no-par common stock and 50,000 shares of 5 percent, $50 par value, noncumulative preferred stock. The stock-related transactions for the first year's operations follow. Jan. 19 Sold 15,000 shares of common stock for $31,500. State law requires a minimum of $1 stated value per share. Jan. 21 Issued 5,000 shares of common stock to attorneys and accountants for services valued at $11,000 and provided during the...

DeLong Corporation was organized on January 1, 2019. It is authorized to issue 10,000 shares...

P11-1A DeLong Corporation was organized on January 1, 2019. It is authorized to issue 10,000 shares of 8%, $100 par value preferred stock, and 500,000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 80,000 shares of common stock for cash at $4 per share. Mar. 1 Issued 5,000 shares of preferred stock for cash at $105 per share. Apr. 1 Issued 24,000 shares of common...

Cheyenne Corporation was organized on January 1, 2017. It is authorized to issue 9,500 shares of...

Cheyenne Corporation was organized on January 1, 2017. It is authorized to issue 9,500 shares of 8%, $100 par value preferred stock, and 516,800 shares of no-par common stock with a stated value of $1 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 80,020 shares of common stock for cash at $7 per share. Mar. 1 Issued 5,750 shares of preferred stock for cash at $111 per share. Apr. 1 Issued 24,660 shares...

DeLong Corporation was organized on January 1, 2020. It is authorized to issue 10,000 shares of...

DeLong Corporation was organized on January 1, 2020. It is authorized to issue 10,000 shares of 8%, $100 par value preferred stock, and 500,000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 80,000 shares of common stock for cash at $4 per share. Mar. 1 Issued 5,000 shares of preferred stock for cash at $105 per share. Apr. 1 Issued 24,000 shares...

DeLong Corporation was organized on January 1, 2020. It is authorized to issue 10,000 shares of...

Sheffield Corporation was organized on January 1, 2020. It is authorized to issue 11,000 shares of...

Sheffield Corporation was organized on January 1, 2020. It is authorized to issue 11,000 shares of 8%, $100 par value preferred stock, and 520,000 shares of no-par common stock with a stated value of $3 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 75,500 shares of common stock for cash at $6 per share. Mar. 1 Issued 5,500 shares of preferred stock for cash at $110 per share. Apr. 1 Issued 22,500 shares...

PUKALANI Corporation was organized on January 1, 2018. It is authorized to issue 20,000 shares of...

PUKALANI Corporation was organized on January 1, 2018. It is authorized to issue 20,000 shares of $3-noncumulative preferred shares and an unlimited number of common shares. The following share transactions were completed during the first year. Jan. 1 Issued 77,000 common shares for cash at $3 per share. Mar. 1 Issued 12,400 preferred shares for cash at $56 per share. May 1 Issued 123,000 common shares for cash at $5 per share. Sept. 1 Issued 4,500 common shares for cash...

Bridgeport Corporation was organized on January 1, 2020. It is authorized to issue 14,500 shares of...

Bridgeport Corporation was organized on January 1, 2020. It is authorized to issue 14,500 shares of 8%, $100 par value preferred stock, and 464,000 shares of no-par common stock with a stated value of $3 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 81,500 shares of common stock for cash at $6 per share. Mar. 1 Issued 4,300 shares of preferred stock for cash at $110 per share. Apr. 1 Issued 22,500 shares...

Subjects