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29 April, 11:13

Presented below is information related to Sheridan Company: Common Stock, $1 par $3470000 Paid-in Capital in Excess of Par-Common Stock 553000 Preferred 8 1/2% Stock, $50 par 2060000 Paid-in Capital in Excess of Par-Preferred Stock 410000 Retained Earnings 1400000 Treasury Common Stock (at cost) 160000 The total paid-in capital (cash collected) related to the common stock is

a. $3470000.

b. $4023000.

c. $3880000.

d. $5410000.

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  1. 29 April, 15:00
    0
    b.$4,023,000

    Explanation:

    The computation of total paid-in capital (cash collected) is shown below:-

    Total paid-in capital (cash collected) = Common Stock + Paid-in Capital in Excess of Par-Common Stock

    = $3,470,000 + 553,000

    = $4,023,000

    Therefore for computing the Total paid-in capital (cash collected) we simply applied the above formula.
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