May,IncHad the Following Transactions in 2019,its First Year of Operations

question 23

Multiple Choice

May,Inc.had the following transactions in 2019,its first year of operations: • Issued 20,000 shares of common stock.The stock has a par value of $3.00 per share and was issued at $19.00 per share.
• Issued 2000 shares of $200 par value preferred stock at par.
• Earned net income of $40,000.
• Paid no dividends.
At the end of 2019,what is the total amount of paid-in capital?

• A) $820,000
• B) $460,000
• C) $380,000
• D) $780,000

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Definitions:

Lack of Education

The state or condition of having insufficient formal education, which can lead to challenges in employment, social mobility, and personal development.

Lack of Motivation

Refers to a state where an individual has little to no desire or drive to perform tasks or engage in activities.

Domestic Violence

Domestic violence involves violent or aggressive behavior within the home, typically involving the abuse of a partner or spouse.

Poor People

Individuals or populations that live with insufficient material possessions or income to meet the minimum standard of living in their society.