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8 February, 16:12

Belton, Inc. had the following transactions in 2018, its first year of operations:• Issued 33,000 shares of common stock. Stock has par value of $1.00 per share and was issued at $24.00per share.• Earned net income of $73,000.• Paid no dividends. At the end of 2018, what is the total amount of paid-in capital? A) $792,000 B) $33,000 C) $73,000 D) $865,000

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  1. 8 February, 17:55
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    A) $792,000

    Explanation:

    33,000 shares of common stock

    issued at:

    market value 24 dollars

    face vale 1 dollar

    additional paid-in 23 per share

    Equity:

    Common Stock

    33,000 shares x 1 = 33,000

    Additional Paid-in capital

    33,000 shares x 23 = 759,000

    Total capital 792,000

    The total paid-in capital will be the sum of both, the common stock and the paid-in capital in excess of par.
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