Thurman Corporation issued 560,000 shares of $0.50 par value capital stock at its date of...
90.2K
Verified Solution
Link Copied!
Question
Accounting
Thurman Corporation issued 560,000 shares of $0.50 par value capital stock at its date of incorporation for cash at a price of $4.0 per share. During the first year of operations, the company earned $180,000 and declared a dividend of $48,000. At the end of this first year of operations, the balance of the Common Stock account is:
$2,240,000.
$2,264,000.
$280,000.
$2,372,000.
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
