1. The company is granted a charter that authorizes issuance of 15,000 shares of $100 par value preferred stock and 40,000 shares of no-par common stock.
2. 8,000 shares of common stock are issued to the founders of the corporation for land valued by the board of directors at $300,000. The board establishes a stated value of $5 a share for the common stock.
Recently Asked Questions
- Please refer to the attachment to answer this question. This question was created from 9.2.10.pdf.
- Please refer to the attachment to answer this question. This question was created from Practice_Assignment1136627.pdf.
- Net Income is $75,000. Beginning retained earnings is $32,000 and ending retained earnings is $60,000. What was the amount of dividends paid?