Thurman Corporation issued 480,000 shares of $0.50 par value capital stock at its date of incorporation for
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Thurman Corporation issued 480,000 shares of $0.50 par value capital stock at its date of incorporation for cash at a price of $2.0 per share. During the first year of operations, the company earned $160,000 and declared a dividend of $44,000. At the end of this first year of operations, the balance of the Common Stock account is:
$240,000.
$960,000.
$1,076,000.
$982,000.
Related Book For
Hospitality Financial Accounting
ISBN: 978-0470083604
2nd Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Agnes L.
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