Moretown,Inc.had the following transactions in 2017,its first year of operations:
• Issued 32,000 shares of common stock.Stock has par value of $1.00 per share and was issued at $28.00 per share.
• Earned net income of $80,000.
• Paid no dividends.
At the end of 2017,what is total stockholders' equity?
A) $32,000
B) $976,000
C) $896,000
D) $80,000
Correct Answer:
Verified
Q21: Green Apron,Inc.had the following transactions in 2017,its
Q25: The following information is from the December
Q26: Preferred stockholders _.
A) receive a dividend preference
Q28: Paid-in capital consists of _.
A) amounts received
Q30: In the event of a corporate liquidation,preferred
Q38: Preferred stock is stock _.
A) that sells
Q39: Which of the following types of stock
Q44: The issue price is the price the
Q50: Most corporations set par value low and
Q60: A company cannot report a gain or
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents