Percy Corporation was organized on January 1, 2014, with an authorization of 1,200,000 shares of common stock with a par value of $6 per share. During 2014, the corporation had the following capital transactions:January 5 issued 450,000 shares @ $10 per shareJuly 28 purchased 60,000 shares @ $11 per shareDecember 31 sold the 60,000 shares held in treasury @ $18 per sharePercy 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, 2014?

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The Answer of Percy Corporation was organized on January 1, 2014, with an authorization of 1,200,000 shares of common stock with a par value of $6 per share. During 2014, the corporation had the following capital transactions:January 5 issued 450,000 shares @ $10 per shareJuly 28 purchased 60,000 shares @ $11 per shareDecember 31 sold the 60,000 shares held in treasury @ $18 per sharePercy 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, 2014?

Percy Corporation Was Organized on January 1, 2014, with an Authorization