ABC Corporation's charter authorized 120,030 shares of common stock. par $10. During the rst year. 25.00:) shares

ABC Corporation's charter authorized 120,030 shares of common stock. par $10. During the first year. 25.00:) shares were sold and Issued at $18 per share; h addition, 800 shares were subscribed for at the same price. One half of the subscription price was collected during the year. At the end of the first year. reported net income was 322.000 and cash dividends of $6.000 were declared and paid. At year-end. liabilities amounted an $25,000. on the last day of the year. 100 shares of stock were purchased from a disgruntled stockholder at $22 per share {assume the test method). 

At year end. what is the total amnunt of the company's contributed capital?

Answer rating: 100% (QA)

ANSWER To calculate the total amount of contributed capital at yearend we need to consider the d... View the full answer