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Bacon Corporation began business by issuing 180,000 shares of $5par value common stock for...

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Accounting

Bacon Corporation began business by issuing 180,000 shares of $5par value common stock for $25 per share. During its first year,the corporation sustained a net loss of $30,000. The year-endbalance sheet would show

Common stock of $900,000.

Common stock of $4,500,000.

Total paid-in capital of $4,470,000.

Total paid-in capital of $930,000.

Answer & Explanation Solved by verified expert
3.7 Ratings (588 Votes)
It is very clear that this is the first year of operation for the company Common stock issued 180000 shares at 25 per share 4500000 Of this amount 180000 shares x 5 par value 900000 will be    See Answer
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In: AccountingBacon Corporation began business by issuing 180,000 shares of $5par value common stock for $25...Bacon Corporation began business by issuing 180,000 shares of $5par value common stock for $25 per share. During its first year,the corporation sustained a net loss of $30,000. The year-endbalance sheet would showCommon stock of $900,000.Common stock of $4,500,000.Total paid-in capital of $4,470,000.Total paid-in capital of $930,000.

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