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QUESTION 34 Tomlinson Packaging Corporation began business in 2014 by issuing 20,000 shares of $6 par common stock for $8 per share and 5,000 shares
QUESTION 34 Tomlinson Packaging Corporation began business in 2014 by issuing 20,000 shares of $6 par common stock for $8 per share and 5,000 shares of 6%, $10 par preferred stock for par. At year end, the common stock had a market value of $10. On its December 31, 2014 balance sheet, Tomlinson Packaging would report Common Stock of $200,000. Common Stock of $160,000. Common Stock of $120,000. Paid-in Capital of $200,000. O
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