For the Current Year Ended, ABC Had the Following Transactions

question 132

Multiple Choice

For the current year ended, ABC had the following transactions:
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Issued 10,000 shares of $2 par common stock for $12 per share.Issued 3,000 shares of $50 par, 6% preferred stock for $70 per share.Purchased 1,000 shares of previously issued common stock for $15 per share.Reported net income of $200,000.
Declared and paid a total dividend of $40,000.
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Assume that retained earnings had a beginning balance of $75,000. Match the following amounts to the appropriate term (a-h) .
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-$100,000

• A)Treasury stock
• B)Retained earnings
• C)Preferred stock
• D)Excess of issue price over par (preferred)
• E)Common stock
• F)Total paid-in capital
• G)Excess of issue price over par (common)
• H)Total stockholders' equity

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Definitions:

Illegal Immigration

The migration of people across national borders in a way that violates the immigration laws of the destination country.

Beaten Paths

Migration routes taken previously by family, relatives, friends, and other migrants.

Job Prospects

The potential opportunities for employment in a certain field or occupation, often influenced by economic trends and industry growth.

Welfare Payments

Government-provided financial assistance to individuals or families in need, aiming to reduce poverty and provide social security.