Moretown Company Had the Following Transactions in 2013, Its First

question 44

Essay

Moretown Company had the following transactions in 2013, 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.
The company charter authorizes 1,000,000 shares of common stock and 100,000 shares of preferred stock.
Please provide the stockholders' equity section of the balance sheet at December 31, 2013. Include information on par values, and the number of shares authorized and issued, where necessary. No subtotals are needed for total paid-in capital, but please show total stockholders' equity on the bottom line.
$$\begin{array} { | l | l | l | l | l | } \hline \text { Account } & \text { Par value info } & \text { Shares authorized } & \text { Shares issued } & \text { Balance } \\\hline & & & & \\\hline & & & & \\\hline & & & & \\\hline & & & & \\\hline & & & & \\\hline\end{array}$$

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Definitions:

Substantia Nigra

A part of the brain located in the midbrain responsible for movement control and contains a large number of dopamine-producing neurons.

Executive Networks

Brain networks involved in high-level functions such as decision-making, problem-solving, and impulse control.

Cognitive Tasks

Tasks or activities that require mental processes such as thinking, remembering, learning, and problem-solving.