Multiple Choice Question 82
An analysis of stockholders' equity of Bonita Industries as ofJanuary 1, 2018, is as follows:
| Common stock, par value$20; authorized 100,000 shares; | |
| issued and outstanding 85000shares | $1700000 |
| Paid-in capital inexcess of par | 850000 |
| Retained earnings | 769000 |
| Total | $3319000 |
Bonita uses the cost method of accounting for treasury stock andduring 2018 entered into the following transactions:
Acquired 2460 shares of its stock for $78720.
Sold 1890 treasury shares at $36 per share.
Sold the remaining treasury shares at $18 per share.
Assuming no other equity transactions occurred during 2018, whatshould Bonita report at December 31, 2018, as total additionalpaid-in capital?
