The Erhardt Corporation Was Incorporated on January 1,2014,with the Following

question 17

Multiple Choice

The Erhardt Corporation was incorporated on January 1,2014,with the following authorized capitalization: During 2014,Erhardt issued 34,000 shares of common stock for a total of $1,700,000 and 6,000 shares of preferred stock at $16 per share.In addition,on December 20,2014,subscriptions for 2,000 shares of preferred stock were taken at a purchase price of $17.These subscribed shares were paid for on January 2,2015.What should Erhardt report as total contributed capital on its December 31,2014,balance sheet?

• A) $1,540,000
• B) $1,762,000
• C) $1,796,000
• D) $1,830,000

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