On April 1, 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 statement of stockholders' equity should report:
| | Common
stock
| Preferred
stock
| Additional
paid-in
capital
|
|---|
|
a. | $20,000 | $300,000 | $580,000 | |
b. | $600,000 | $300,000 | $0 | |
c. | $20,000 | $60,000 | $820,000 | |
d. | $600,000 | $60,000 | $240,000 |
|
