Tomlinson Packaging Corporation began business in 2021 by issuing 50000 shares of $5 par common stock for $8 per share and 5000 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 2021 balance sheet Tomlinson Packaging would report
A) Common Stock of $500000.
B) Common Stock of $250000.
C) Common Stock of $400000.
D) Paid-in Capital of $330000.
Correct Answer:
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