Question
Carla Vista Corp. was organized on January 1, 2023, with the following authorized share capital: 21600 common shares, no par value 14000, $0.15, cumulative preferred
Carla Vista Corp. was organized on January 1, 2023, with the following authorized share capital: 21600 common shares, no par value 14000, $0.15, cumulative preferred shares, no par value During 2023, the corporation issued 11000 common shares for $770000 and 11000 preferred shares at $29 per share. On December 20, 2023, subscriptions for 1200 preferred shares were taken at a purchase price of $31. These subscribed shares were paid for on January 2, 2024. What should Carla Vista report as total contributed capital on its December 31, 2023, balance sheet? O $770000 O $1229000 O $1089000 O $319000
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