Wendell Company Provided the Following Pertaining to Its Accounting Year

question 54

Multiple Choice

Wendell Company provided the following pertaining to its accounting year that ended December 31,2019: • Common stock with a $10,000 par value was sold for $50,000 cash
• Cash dividends totaling $20,000 were declared,of which $15,000 were paid
• Net income was $70,000
• A 5% stock dividend resulted in a common stock distribution,which had a $5,000 par value and a $23,000 market value
• Treasury stock repurchased in a prior year for $9,000 was resold for $7,000 and in the journal entry to record the sale,Additional paid-in capital was debited for the amount of the difference between the repurchase price and the resale price
-
What is the amount of net increase in Wendell's additional paid-in capital account during the year 2019?

• A)$60,000.
• B)$58,000.
• C)$56,000.
• D)$24,000.

---

Definitions:

Controller Scope Tags

Variables or identifiers used within a control system that are available throughout the entire controller but not beyond its scope.

CLX Timer Instruction

A specific command used within ControlLogix or similar Allen-Bradley PLC programming to implement timing functions, like delays or scheduled events.

Predefined Structure

A data structure whose format and characteristics are specified beforehand, used to organize and store data efficiently.

BOOL-Type Tags

Boolean type tags used in programming to represent binary values of true/false or 0/1.