Solved

Coda Corporation Was Organized on January 1, 2019, with an Authorization

Question 65

Multiple Choice

Coda Corporation was organized on January 1, 2019, with an authorization of 2,000,000 shares of $5 par value common stock. During 2019, Coda had the following common stock transactions:
jan. 4: Issued 100,000 shares @ $6 per share.
apr. 8: Issued 200,000 shares @ $7 per share.
June 9: Issued 60,000 shares @ $10 per share.
July 29: Purchased 40,000 shares (treasury) @ $10 per share.
Dec) 31: Sold 40,000 shares held in treasury @ $12 per share.
Coda had no other transactions affecting contributed capital. At December 31, 2019, what is the total amount of contributed capital?


A) $2,680,000
B) $1,800,000
C) $ 920,000
D) $ 800,000
E) None of the above

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents