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:
Verified
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