Blossom Corporation began business in 2020 by issuing 96000 shares of $5 par common stock for...

Transcribed Image Text:

Blossom Corporation began business in 2020 by issuing 96000 shares of $5 par common stock for $8 per share and 25000 shares of 9%, $10 par preferred stock for par. At year end, the common stock had a market value of $10. On its December 31, 2020 balance sheet, Blossom would report Common Stock of $768000. Paid-In Capital of $735000. Common Stock of $960000. Common Stock of $480000. O Blossom Corporation began business in 2020 by issuing 96000 shares of $5 par common stock for $8 per share and 25000 shares of 9%, $10 par preferred stock for par. At year end, the common stock had a market value of $10. On its December 31, 2020 balance sheet, Blossom would report Common Stock of $768000. Paid-In Capital of $735000. Common Stock of $960000. Common Stock of $480000. O