Refer to the information above. What is total paid-in capital?

Question

Quizplus · Accepted Answer

Total paid-in capital is the sum of common stock, additional paid-in capital, and preferred stock. From the given information, total paid-in capital would be calculated as follows:
Common stock = $1,500,000
Additional paid-in capital = $600,000
Preferred stock = $300,000
Total paid-in capital = $1,500,000 + $600,000 + $300,000 = $2,400,000. Therefore, option C is the correct answer.

Refer to the Information Above