Amoeba Manufacturing Inc

question 4

Multiple Choice

Amoeba Manufacturing Inc.provided the following information for the year 2015: The inventory account balances as of January 1^st 2015 are given below.

-What is the ending balance in the Work-in-Process Inventory account?

• A)$24,650
• B)$12,000
• C)$49,500
• D)$65,350

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Definitions:

Common Stock

A type of equity security that represents ownership in a corporation, entitling holders to a share of the company's profits and voting rights.

Par Value

The face value of a bond or stock as stated by the issuer.

Paid-in Capital

Paid-in capital represents the funds raised by a company through the sale of stock to shareholders, above the par value of the shares.

Treasury Stock

Shares that were once issued and fully paid, but have been bought back by the issuing company and are held in the company’s treasury.