ABC Corporation began operations on January 3, 2013. There are 100,000 shares of $5 par value common
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ABC Corporation began operations on January 3, 2013. There are 100,000 shares of $5 par value common stock authorized to issue. During 2013, ABC had the following transactions relating to shareholders' equity:
Issued 10,000 shares of common stock at $7 per share.
Issued 20,000 shares of common stock at $8 per share.
Reported a net income of $100,000.
Paid dividends of $50,000.
What is total paid-in capital at the end of 2012?
A. $280,000.
B. $230,000.
C. $330,000.
D. $180,000.
Related Book For
Intermediate accounting
ISBN: 978-0077647094
7th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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