On April 1, 2006, Hyde Corp., a newly formed company, had the following stock issued and outstanding:
- Common stock, no par, $1 stated value, 20,000 shares originally issued for $30 per share.
- Preferred stock, $10 par value, 6,000 shares originally issued for $50 per share.
Hyde’s April 1, 2006 statement of stockholders’ equity should report
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|
Common stock |
Preferred stock |
Additional paid-in capital |
|
|
a. |
$ 20,000 |
$ 60,000 |
$820,000 |
|
b. |
$ 20,000 |
$300,000 |
$580,000 |
|
c. |
$600,000 |
$300,000 |
$0 |
|
d. |
$600,000 |
$ 60,000 |
$240,000 |