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:

Add-On Code

In medical billing, a code that represents an additional procedure performed during the same service session as the primary procedure.

New Code

A recently developed set of rules or instructions designed for programming languages or for categorizing information.

Alpha Characters

Letter characters in the alphabet, as opposed to numeric or special characters.

ICD-9-PCS

The International Classification of Diseases, Ninth Revision, Procedure Coding System; a medical classification used for procedural codes that track various health interventions taken by medical professionals.