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Kingbird, Inc. began business by issuing 390000 shares of $5 par value common stock for $24 per share. During its first year, the corporation sustained a net loss of $59000. The year-end balance sheet would show O Common Stock of $1950000. O Total paid-in capital of $7860000. O Total paid-in capital of $9300000. O Common Stock of $9360000.

Kingbird, Inc. began business by issuing 390000 shares of $5 par value common stock for $24 per share. During its first year, the corporation sustained a net loss of $59000. The year-end balance sheet would show O Common Stock of $1950000. O Total paid-in capital of $7860000. O Total paid-in capital of $9300000. O Common Stock of $9360000.

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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Kingbird, Inc. began business by issuing 390000 shares of $5 par value common stock for $24 per share. During its first year, the corporation sustained a net loss of $59000. The year-end balance sheet would show O Common Stock of $1950000. O Total paid-in capital of $7860000. Total paid-in capital of $9300000. Common Stock of $9360000.
Transcribed Image Text:Kingbird, Inc. began business by issuing 390000 shares of $5 par value common stock for $24 per share. During its first year, the corporation sustained a net loss of $59000. The year-end balance sheet would show O Common Stock of $1950000. O Total paid-in capital of $7860000. Total paid-in capital of $9300000. Common Stock of $9360000.
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