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Corner Corporation began business by issuing 300,000 shares of $5 par value common stock for $24 per share. During its first year, the corporation sustained
Corner Corporation began business by issuing 300,000 shares of $5 par value common stock for $24 per share. During its first year, the corporation sustained a net loss of $50,000. The year-end balance sheet would show
A. | Common Stock of $1,500,000. | |
B. | total paid-in capital of $7,140,000. | |
C. | Common Stock of $7,200,000. | |
D. | total paid-in capital of $5,700,000. |
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