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)

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.