Question

Crane Corporation was organized on January 1, 2020, with authorized capital of 502000 shares of $10 par value common stock. During 2020, Crane issued 31400 shares at $13 per share, purchased 3400 shares of treasury stock at $13 per share, and sold 3400 shares of treasury stock at $14 per share. What is the amount of additional paid-in capital at December 31, 2020?

Answer 1

The amount of additional paid-in capital at December 31, 2020 is $97600.

Step-by-step explanation:

Additional paid-in capital from stock issuance 31400*(13-10) 94200

Additional paid-in capital from treasury stock 3400*(14-13) 3400

Additional paid-in capital at December 31, 2020 97600

Therefore, The amount of additional paid-in capital at December 31, 2020 is $97600.