The total amount of Revere's paid-in capital at December 31, 2009, is:

Question

Quizplus · Accepted Answer

Paid-in capital is the amount contributed by investors to a company in exchange for ownership shares. As per the information given, the total common stock issued is $10,000,000 and the par value per share is $1. Therefore, the total number of common shares issued is 10,000,000/1 = 10,000,000. The additional paid-in capital is $2,000,000. Thus, the total paid-in capital at December 31, 2009, is $10,000,000 + $2,000,000 = $12,000,000. Therefore, option C is the correct answer.

The Total Amount of Revere's Paid-In Capital at December 31