What is the total amount of additional paid-in capital

Reference no: EM132215362

Question - Percy Corporation was organized on January 1, 2018, with an authorization of 1,200,000 shares of common stock with a par value of $6 per share. During 2018, the corporation had the following capital transactions:

January 5 July 28 December 31 issued 600,000 shares @ $10 per share purchased 80,000 shares @ $11 per share sold the 80,000 shares held in treasury @ $18 per share

Percy used the cost method to record the purchase and reissuance of the treasury shares. What is the total amount of additional paid-in capital as of December 31, 2018?

Reference no: EM132215362

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