Century Corporation issued 800,000 shares of $10 par value common stock at the time of its incorporation.
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Question:
Century Corporation issued 800,000 shares of $10 par value common stock at the time of its incorporation. The stock was issued for cash at a price of $13 per share. During the first year of operations, the company sustained a net loss of $170,000. The year-end balance sheet would show the balance of the Common Stock account to be:
a. $4,500,000.
b. $4,380,000.
c. $15,180,000.
d. $15,300,000.
Related Book For
Managerial Economics and Strategy
ISBN: 978-0321566447
1st edition
Authors: Jeffrey M. Perloff, James A. Brander
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