Moretown Company Had the Following Transactions in 2015, Its First

question 19

Multiple Choice

Moretown Company had the following transactions in 2015, 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.
At the end of 2015, 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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Definitions:

Goal Setting Theory

A motivational theory that emphasizes the setting of specific and challenging goals to enhance performance in tasks.

Social Needs

Social needs are inherent psychological requirements for belonging, love, and interpersonal relationships that motivate behavior.

Interpersonal Relationships

Social connections and associations between two or more individuals, varying in duration and levels of intimacy and significance.

Esteem Needs

are psychological requirements for respect, self-esteem, recognition, and confidence, part of Maslow's hierarchy of needs.