Reference no: EM131800491
Question - Venco Corporation's December 31, 2010 balance sheet showed the following:
8% preferred stock, $20 par value, cumulative, 10,000 shares
authorized; 7,500 shares issued $150,000
Common stock, $10 par value, 1,000,000 shares authorized;
975,000 shares issued, 960,000 shares outstanding 9,750,000
Paid-in capital in excess of par value-preferred stock 30,000
Paid-in capital in excess of par value-common stock 13,500,000
Retained earnings 3,750,000
Treasury stock (15,000 shares) 315,000
Venco's total paid-in capital was
$23,430,000.
$23,745,000.
$23,115,000.
$13,080,000.
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