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Information from Belton, Inc. included the following in 2024, 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 $27.00 per share. • Earned net income of $73,000. • Paid no dividends. At the end of 2024, what is the total amount of paid-in capital? $73,000 $32,000 $864,000 $937,000

Information from Belton, Inc. included the following in 2024, 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 $27.00 per share. • Earned net income of $73,000. • Paid no dividends. At the end of 2024, what is the total amount of paid-in capital? $73,000 $32,000 $864,000 $937,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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**Information from Belton, Inc. for 2024 (First Year of Operations):** - **Issued 32,000 shares of common stock.** - Stock has a par value of $1.00 per share. - Issued at $27.00 per share. - **Earned net income of $73,000.** - **Paid no dividends.** **Question:** At the end of 2024, what is the total amount of paid-in capital? **Options:** - $73,000 - $32,000 - $864,000 - $937,000
Transcribed Image Text:**Information from Belton, Inc. for 2024 (First Year of Operations):** - **Issued 32,000 shares of common stock.** - Stock has a par value of $1.00 per share. - Issued at $27.00 per share. - **Earned net income of $73,000.** - **Paid no dividends.** **Question:** At the end of 2024, what is the total amount of paid-in capital? **Options:** - $73,000 - $32,000 - $864,000 - $937,000
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