1. Tyson Corporation issued 350,000 shares of $1.50 par value capital stock at its date of...

 

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1. Tyson Corporation issued 350,000 shares of $1.50 par value capital stock at its date of incorporation for cash at a price of $6 per share. During the first year of operations, the company earned $150,000 and declared a dividend of $50,000. At the end of this first year of operations, the balance of the Common Stock account is: a. $ 625,000 b. $2,200,000 c. $ 525,000 d. $1,675,000 1. Tyson Corporation issued 350,000 shares of $1.50 par value capital stock at its date of incorporation for cash at a price of $6 per share. During the first year of operations, the company earned $150,000 and declared a dividend of $50,000. At the end of this first year of operations, the balance of the Common Stock account is: a. $ 625,000 b. $2,200,000 c. $ 525,000 d. $1,675,000

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