8 Clothing Emporium was organized on January 1, 2021. The firm was authorized to issue 100,000 shares of $10 par value common stock. During 2021, Clothing Emporium had the following transactions relating to stockholders' equity. Issued 30,000 shares of common stock at $12 per share. Issued 20,000 shares of common stock at $13 per share. Reported a net income of $100,000. Paid dividends of $50,000. What is total paid-in capital at the end of 2021? Multiple Choice $670,000. $620,000. $720,000. $570,000. < Prev 8 of 10 Score answer >
8 Clothing Emporium was organized on January 1, 2021. The firm was authorized to issue 100,000 shares of $10 par value common stock. During 2021, Clothing Emporium had the following transactions relating to stockholders' equity. Issued 30,000 shares of common stock at $12 per share. Issued 20,000 shares of common stock at $13 per share. Reported a net income of $100,000. Paid dividends of $50,000. What is total paid-in capital at the end of 2021? Multiple Choice $670,000. $620,000. $720,000. $570,000. < Prev 8 of 10 Score answer >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Clothing Emporium was organized on January 1, 2021. The firm was authorized to issue 100,000 shares of $10 par value common stock. During 2021, Clothing Emporium had the following transactions
relating to stockholders' equity:
Graw
Hill
Issued 30,000 shares of common stock at $12 per share.
Issued 20,000 shares of common stock at $13 per share.
Reported a net income of $100,000.
Paid dividends of $50,000.
What is total paid-in capital at the end of 2021?
Multiple Choice
d cash flows for the year as follo
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$670,000.
$620,000.
$720,000.
$570,000.
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