Moretown Company Had the Following Transactions in 2014, Its First

question 60

Multiple Choice

Moretown Company had the following transactions in 2014, its first year of operations.
• Issued 30,000 shares of common stock. Stock has par value of $1.00 per share and was issued at $18.00
Per share.
• Earned net income of $70,000.
• Paid no dividends.
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At the end of 2014, what is the total amount of Stockholders' equity?

• A) $30,000
• B) $610,000
• C) $540,000
• D) $70,000

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Definitions:

Peripheral Vasodilatation

The expansion of blood vessels in the outer parts of the body, which can increase blood flow and decrease blood pressure.

Cardiac Output

The volume of blood the heart pumps through the circulatory system in one minute, an important measure of heart function.