Realistic Corporation's December 31, 2015 balance sheet showed the following: 8% preferred stock, $20 par value, cumulative, 20,000 shares $$\begin{array} { l r }
\text { authorized; 10,000 shares issued } & \$ 200,000 \
\text { Common stock, \$10 par value, 2,000,000 shares authorized; } & \
\text { 1,950,000 shares issued, 1,930,000 shares outstanding } & 19,500,000 \
\text { Paid-in capital in excess of par-preferred stock } & 60,000 \
\text { Paid-in capital in excess of par-common stock } & 24,000,000 \
\text { Retained earnings } & 7,650,000 \
\text { Treasury stock (20,000 shares) } & 630,000
\end{array}$$ Realistic's total paid-in capital was

Question

Realistic Corporation's December 31, 2015 balance sheet showed the following: 8% preferred stock, $20 par value, cumulative, 20,000 shares $$\begin{array} { l r } 
\text { authorized; 10,000 shares issued } & \$ 200,000 \
\text { Common stock, \$10 par value, 2,000,000 shares authorized; } & \
\text { 1,950,000 shares issued, 1,930,000 shares outstanding } & 19,500,000 \
\text { Paid-in capital in excess of par-preferred stock } & 60,000 \
\text { Paid-in capital in excess of par-common stock } & 24,000,000 \
\text { Retained earnings } & 7,650,000 \
\text { Treasury stock (20,000 shares) } & 630,000
\end{array}$$ Realistic's total paid-in capital was

Quizplus · Accepted Answer

Total paid-in capital is calculated by adding the preferred stock, common stock, and paid-in capital in excess of par for both preferred and common stock: $200,000 (preferred stock) + $19,500,000 (common stock) + $60,000 (excess preferred) + $24,000,000 (excess common) = $43,760,000.

Realistic Corporation's December 31, 2015 Balance Sheet Showed the Following