Moretown Company Had the Following Transactions in 2014, Its First

question 105

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 Paid-in capital?

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

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American Families

A demographic or sociological term referring to household structures in the United States, which can vary widely in terms of size, composition, and roles.

Unbiased Coin

A coin for which the probability of landing on heads or tails is exactly 50%, indicating no preference or bias.

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