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Sagot :
Answer:
Common stock $20,000
Preferred stock $60,000
APIC $820,000
Explanation
Calculation to determine what Hyde's April 1, year 1 statement of stockholders' equity should report
Calculation to determine the COMMON STOCK
Common stock=20,000 shares*$1
Common stock=$20,000
Calculation to determine PREFERRED STOCK
Preferred stock =6,000 shares*$10
Preferred stock =$60,000
Calculation to determine ADDITIONAL PAID-IN CAPITAL (APIC)
APIC=[(6000*$50)-(6000*$10)]+[(20,000*$30)+(20,000*$1)]
APIC=($300,000-$60,000)+($600,000-$20,000)
APIC=$240,000+$580,000
APIC=$820,000
Therefore Hyde's April 1, year 1 statement of stockholders' equity should report:
Common stock $20,000
Preferred stock $60,000
APIC $820,000
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