An analysis of stockholders' equity of Hahn Corporation as of January 1, 2012, is as follows: Common stock, par value $20; authorized 100,000 shares;
issued and outstanding 93000 shares $1860000
Paid-in capital in excess of par 930000
Retained earnings 762000
Total $3552000
Concord uses the cost method of accounting for treasury stock and during 2021 entered into the following transactions:
Acquired 2460 shares of its stock for $73800. Sold 2000 treasury shares at $35 per share. Sold the remaining treasury shares at $20 per share.
Assuming no other equity transactions occurred during 2012, what should Hahn report at December 31, 2012, as total additional paid-in capital?

Assuming no other equity transactions occurred during 2012, what should Hahn report at December 31, 2012, as total additional paid-in capital?

Explanation:

Common stock, par value $20; authorized 100,000 shares;  issued and outstanding 93000 shares $1,860,000

Paid-in capital in excess of par $930,000

Retained earnings $762,000

Total $3,552,000

Acquired 2460 shares of its stock for $73800.

Dr Treasury stock 73,800 (paid $30 per stock)

    Cr Cash 73,800

Sold 2000 treasury shares at $35 per share.

Dr Cash 70,000

    Cr Common stock 40,000 (= $20 x 2,000)

    Cr Additional paid in capital 30,000

Sold the remaining treasury shares at $20 per share.

Dr Cash 9,200

    Cr Common stock 9,200 (= $20 x 460)

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