Pharoah Company began business by issuing 245000 shares of $ 5 par value common stock for $

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Pharoah Company began business by issuing 245000 shares of $5 par value common stock for $24 per share. During its first year, the corporation sustained a net loss of $64000. The year-end balance sheet would show

Total paid-in capital of $5820000.

Common Stock of $1225000.

Total paid-in capital of $4380000.

Common Stock of $5880000.

Related Book For answer-question

Financial Accounting

ISBN: 9781618533111

6th Edition

Authors: Michelle L. Hanlon, Robert P. Magee, Glenn M. Pfeiffer, Thomas R. Dyckman

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Posted Date: Feb 13, 2022 04:34 PM

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Pharoah Company began business by issuing 245000 shares of $ 5 par value common stock for $

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Financial Accounting

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