Sandoz Corporation Was Organized on January 1, 2018, with Authorized

question 129

Multiple Choice

Sandoz Corporation was organized on January 1, 2018, with authorized capital of 500,000 shares of $10 par value common stock. During 2018, Sandoz issued 30,000 shares at $12 per share, purchased 3,000 shares of treasury stock at $13 per share, and sold 3,000 shares of treasury stock at $14 per share. What is the amount of additional paid-in capital at December 31, 2018?

• A) $0
• B) $3,000
• C) $60,000
• D) $63,000

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Definitions:

Stock Plan

An employee benefit plan in which staff have the opportunity to buy company shares, often at a discount or as part of compensation.

Stock Bonus Plan

A form of compensation given to employees, offering them shares in the company as part of their remuneration package.

Stock Gainsharing Plan

A compensation program where employees receive benefits based on the company's stock performance, usually in addition to their regular salaries.

Guaranteed Pay

Compensation that an employee can count on receiving, typically a fixed annual amount, regardless of performance or company profits.