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Midtown, Inc. In 2018, the first year it started its operations, it carried out the following transactions: Issued 31,000 ordinary shares. The par value
Midtown, Inc. In 2018, the first year it started its operations, it carried out the following transactions:
• Issued 31,000 ordinary shares. The par value of the stock is $1.00 per share
and was issued at $20.00 per share.
• A net income of $70,000 was generated.
• Did not pay dividends.
What is the total equity capital at the end of 2018?
• Issued 31,000 ordinary shares. The par value of the stock is $1.00 per share
and was issued at $20.00 per share.
• A net income of $70,000 was generated.
• Did not pay dividends.
What is the total equity capital at the end of 2018?
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Intermediate Accounting Reporting and Analysis
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
2nd edition
9781305727557, 1285453824, 9781337116619, 130572755X, 978-1285453828
