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Clothing Emporium was organized on January 1, 2021. The firm was authorized to issue 190,000 shares of $6 par value common stock. During 2021, Clothing Emporium had the following transactions relating to stockholders' equity: Issued 57,000 shares of common stock at $8 per share. Issued 38,000 shares of common stock at $9 per share. Reported a net income of $190,000. Paid dividends of $95,000. What is total paid-in capital at the end of 2021? Multiple Choice $703,000. $798,000 $893,000 $988,000

Clothing Emporium was organized on January 1, 2021. The firm was authorized to issue 190,000 shares of $6 par value common stock. During 2021, Clothing Emporium had the following transactions relating to stockholders' equity: Issued 57,000 shares of common stock at $8 per share. Issued 38,000 shares of common stock at $9 per share. Reported a net income of $190,000. Paid dividends of $95,000. What is total paid-in capital at the end of 2021? Multiple Choice $703,000. $798,000 $893,000 $988,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Clothing Emporium was organized on January 1, 2021. The firm was authorized to issue 190,000 shares of $6 par value common stock. During 2021, Clothing Emporium had the following transactions relating to stockholders' equity: Issued 57,000 shares of common stock at $8 per share. Issued 38,000 shares of common stock at $9 per share. Reported a net income of $190,000. Paid dividends of $95,000. What is total paid-in capital at the end of 2021? Multiple Choice $703,000. $798,000 $893,000 $988,000
Transcribed Image Text:Clothing Emporium was organized on January 1, 2021. The firm was authorized to issue 190,000 shares of $6 par value common stock. During 2021, Clothing Emporium had the following transactions relating to stockholders' equity: Issued 57,000 shares of common stock at $8 per share. Issued 38,000 shares of common stock at $9 per share. Reported a net income of $190,000. Paid dividends of $95,000. What is total paid-in capital at the end of 2021? Multiple Choice $703,000. $798,000 $893,000 $988,000
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