Ritchey Corporation has the following capital stock outstanding at December 31, 2014:
9% Preferred stock, $100 par value, cumulative
12,000 shares issued and outstanding $1,200,000
Common stock, no par, $10 stated value, 500,000 shares authorized,
300,000 shares issued and outstanding 3,000,000
The preferred stock was issued at $125 per share. The common stock was issued at an average per share price of $14.
Instructions
Prepare the paid-in capital section of the balance sheet at December 31, 2014.

Question

Quizplus · Accepted Answer

The Answer of Ritchey Corporation has the following capital stock outstanding at December 31, 2014:
9% Preferred stock, $100 par value, cumulative
12,000 shares issued and outstanding $1,200,000
Common stock, no par, $10 stated value, 500,000 shares authorized,
300,000 shares issued and outstanding 3,000,000
The preferred stock was issued at $125 per share. The common stock was issued at an average per share price of $14.
Instructions
Prepare the paid-in capital section of the balance sheet at December 31, 2014.

Ritchey Corporation Has the Following Capital Stock Outstanding at December