Short Answer (5 points each) Lindsey Co. was formed on January 1 of the current

Question

Short Answer (5 points each) Lindsey Co. was formed on January 1 of the current year. Its articles of incorporation authorize the issuance of 1 million shares of $5 par value common stock. On February 1, it issued 200,000 shares for $2.0 million. On April 30, 10,000 shares were issued to a management consultant in exchange for services rendered. These services had a fair value of $140,000. On November 1, Lindsey issued 30,000 shares for a plant site when the fair value of the stock was $17.50 per share. Assuming that the foregoing were the only transactions affecting the paid-in capital accounts in the first year of Lindsey's operations, what was the balance of additional paid-in capital at year end? 1. AL 1000 At the beginning of 2018, Corwin Corp recognized a loss of $195,000 on their projected benefit obligation. Prior to the recognition of the loss, the PBO balance was $1.7 million 1018 the average remaining service life equaled 9-years. At the end of 2018,if the 2. arunt, how much of the loss

Explanation / Answer

Additional paid in capital

Transaction Par Value Additional paid in capital 1 200000*5=1000000 2000000-1000000=1000000 2 10000*5=50000 140000-50000= 90000 3 30000*(17.5-5)=375000 Additional paid in capital 1,465,000

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