Shack Company has the following information available for the most current year: What was the paid-in capital at December 31,2010 for Shack Company?
A)$250,000
B)$320,000
C)$475,000
D)$795,000

Question

Shack Company has the following information available for the most current year:  What was the paid-in capital at December 31,2010 for Shack Company?
A)$250,000 
B)$320,000 
C)$475,000 
D)$795,000

Quizplus · Accepted Answer

The paid-in capital is typically reported in the equity section of the balance sheet, which provides a snapshot of a company's financial position at a specific point in time. Without additional information, it is impossible to determine the paid-in capital for a given year based on the information provided.

Shack Company Has the Following Information Available for the Most