Midtown, Inc. had the following transactions in 2024, its first year of operations:

Issued 36000 shares of common stock. Stock has par value of $1.00 per share and was issued at $24.00 per share.

Earned net income of &78000

Paid no dividends.

At the end of 2024, what is total stockholders' equity?

A. 942000

B. 78000

C. 36000

D. 864000

2- Pumpkin Corporation issued 8000 shares of common stock on January 1, 2024. The stock has no par value and was issued at $21 per share. The journal entry for this transaction includes a ________.

A.

debit to Cash for $168000 and a credit to PaidIn Capital in Excess of ParCommon for $168000

B. debit to Cash for $168000 and a credit to Common StockNoPar Value for $168000

C. credit to Cash for &168000 , a debit to PaidIn Capital in Excess of ParCommon for $8000, and a debit to Common StockNoPar Value for $160,000

D. credit to Cash for $168000, and a debit to Common StockNoPar Value for $168000