Danley Corporation Began Business by Issuing 200,000 Shares of $5

question 202

Multiple Choice

Danley Corporation began business by issuing 200,000 shares of $5 par value common stock for $24 per share.During its first year, the corporation sustained a net loss of $40,000.The year-end balance sheet would show

• A)Common Stock of $1,000,000.
• B)Common Stock of $4,800,000.
• C)total paid-in capital of $4,760,000.
• D)total paid-in capital of $3,800,000.

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