Moretown,Inc

question 179

Multiple Choice

Moretown,Inc.had the following transactions in 2017,its first year of operations:
• Issued 32,000 shares of common stock.Stock has par value of $1.00 per share and was issued at $28.00 per share.
• Earned net income of $80,000.
• Paid no dividends.
At the end of 2017,what is total stockholders' equity?

• A)$32,000
• B)$976,000
• C)$896,000
• D)$80,000

Learn the optimal group sizes for different types of teamwork and meetings.

Recognize the importance of meeting preparation, including setting agendas and expected premeeting preparations.

Grasp the importance of soft skills, including courtesy, etiquette, and professionalism in the workplace.

Understand the significance and best practices of conducting and concluding meetings.

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Definitions:

Cash Sales

Revenue received immediately in currency or by check at the time of sale.

Credit Sales

Sales made by a business where payment is delayed as per agreement, rather than requiring immediate payment in cash.

Acid-Test Ratio

A liquidity ratio that measures a company's ability to pay off its current liabilities with its quick assets.

Quick Ratio

A liquidity ratio that measures a company's ability to cover its short-term obligations with its most liquid assets, excluding inventory.