The following information is available for Peterson Corp: 3/1/X2 The company was formed and was authorized by the state for future issuance, 1,500,000 shares of $1 par value common stock and 100,000 shares of 5%, $10 par value preferred stock. 3/15/X2 The Company issued 45,000 shares of its common stock for $12 a share. 6/30/X2 The Company issued 500 shares of its preferred stock to an attorney for $5,000 worth of legal work. 11/15/X2 The Company issued 300 shares of its preferred stock to a consultant for $4,300 worth of work. What is reported as the total Capital Contributions on Peterson's 12/31/X2 balance sheet in the Stockholders' Equity section? 549,300 53,000 496,300 2,500,000

The following information is available for Peterson Corp: 3/1/X2 The company was formed and was authorized by the state for future issuance, 1,500,000 shares of $1 par value common stock and 100,000 shares of 5%, $10 par value preferred stock. 3/15/X2 The Company issued 45,000 shares of its common stock for $12 a share. 6/30/X2 The Company issued 500 shares of its preferred stock to an attorney for $5,000 worth of legal work. 11/15/X2 The Company issued 300 shares of its preferred stock to a consultant for $4,300 worth of work. What is reported as the total Capital Contributions on Peterson's 12/31/X2 balance sheet in the Stockholders' Equity section? 549,300 53,000 496,300 2,500,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter15: Contributed Capital

Section: Chapter Questions

Problem 2MC: Cary Corporation has 50,000 shares of 10 par common stock authorized. The following transactions...

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