Question
#38. Belton, Inc. had the following transactions in 2018, its first year of operations: Issued 38,000 shares of common stock. Stock has par value of
#38. Belton, Inc. had the following transactions in 2018, its first year of operations:
Issued 38,000 shares of common stock. Stock has par value of $1.00 per share and was issued at $26.00 per share.
Earned net income of $79,000. Paid no dividends. At the end of 2018, what is the total amount of paid - in capital?
multiple choice
A. $79.000
. B. $988,000
. C. $1,067,000
D. $38.000
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Principles Of External Auditing
Authors: Brenda Porter, Jon Simon, David Hatherly
1st Edition
0471962120, 978-0471962120
