Solved

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

Question 66

Multiple Choice

Tolkin Corporation was organized on January 1, 2019, with an authorization of 5,000,000 shares of $1 par value common stock. During 2019, Tolkin had the following common stock transactions:
Tolkin had no other transactions affecting paid-in capital. At December 31, 2019, what is the total amount of paid-in capital?
Tolkin Corporation was organized on January 1, 2019, with an authorization of 5,000,000 shares of $1 par value common stock. During 2019, Tolkin had the following common stock transactions: Tolkin had no other transactions affecting paid-in capital. At December 31, 2019, what is the total amount of paid-in capital?    A)  $3,120,000 B)  $3,090,000 C)  $2,660,000 D)  $2,720,000 E)  None of the above


A) $3,120,000
B) $3,090,000
C) $2,660,000
D) $2,720,000
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