Bacon Corporation began business by issuing 180,000 shares of $5par value common stock for...

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Accounting

Bacon Corporation began business by issuing 180,000 shares of $5par value common stock for $25 per share. During its first year,the corporation sustained a net loss of $30,000. The year-endbalance sheet would show
Common stock of $900,000.
Common stock of $4,500,000.
Total paid-in capital of $4,470,000.
Total paid-in capital of $930,000.

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It is very clear that this is the first year of operation for the company Common stock issued 180000 shares at 25 per share 4500000 Of this amount 180000 shares x 5 par value 900000 will be See Answer

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In: AccountingBacon Corporation began business by issuing 180,000 shares of $5par value common stock for $25...Bacon Corporation began business by issuing 180,000 shares of $5par value common stock for $25 per share. During its first year,the corporation sustained a net loss of $30,000. The year-endbalance sheet would showCommon stock of $900,000.Common stock of $4,500,000.Total paid-in capital of $4,470,000.Total paid-in capital of $930,000.

		Common stock of $900,000.
		Common stock of $4,500,000.
		Total paid-in capital of $4,470,000.
		Total paid-in capital of $930,000.