The Erhardt Corporation was incorporated on January 1 . 2014, with the following authorized capitalization: • 40,000 shares of common stock, no par value, stated value $40 per share • 10,000 shares of 5 percent cumulative preferred stock, par value $10 per share During 2014, Erhardt issued 34,000 shares of common stock for a total of $1,700,000 and 6,000 shares of preferred stock at $16 per
share. In addition, on December 20, 2014, subscriptions for 2,000 shares of preferred stock were taken at a purchase price of $17 . These subscribed shares were paid for on January 2, 2015 . What should Erhardt report as total contributed capital on its December 31 . 2014, balance sheet?
a. $1,540,000
b. $1,762,000
c. $1,796,000
d. $1,830,000
D
You might also like to view...
Who received the longest sentence in prison for their crimes?
a. Andrew Fastow b. Jeffrey Skilling c. John Rigas d. Bernie Ebbers
________ is defined as the degree to which people see themselves as moral.
A. Moral judgment B. Moral awareness C. Trust propensity D. Moral identity E. Moral intensity
For a standard normal distribution, the probability of obtaining a z value between -1.9 to 1.7 is
a. 0.9267 b. 0.4267 c. 1.4267 d. 0.5000
Assume that stock market returns do follow a single-index structure. An investment fund analyzes 60 stocks in order to construct a mean-variance efficient portfolio constrained by 60 investments. They will need to calculate ________ estimates of expected returns and ________ estimates of sensitivity coefficients to the macroeconomic factor.
A. 200; 19,900 B. 200; 200 C. 60; 60 D. 19,900; 19.900 E. None of the options are correct.