Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. thurman corporation issued 560,000 shares of $0.50

Thurman Corporation issued 560,000 shares of $0.50 par value capital stock at its date of...

90.2K

Verified Solution

Question

Accounting

Thurman Corporation issued 560,000 shares of $0.50 par value capital stock at its date of incorporation for cash at a price of $4.0 per share. During the first year of operations, the company earned $180,000 and declared a dividend of $48,000. At the end of this first year of operations, the balance of the Common Stock account is:

$2,240,000.

$2,264,000.

$280,000.

$2,372,000.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Psychology
1.2K views

IN HIS WORK THE FUTURE OF AN ILLUSION, SIGMUND FREUD CALLS RELIGIOUS IDEAS ILLUSIONS. WHAT DOES...

Economics
1.2K views

When an increase in price of one commodity decreases the demand for another commodity (negative cross...

Advance Math
1.2K views

1)In your own words describe what is the Dirac delta function. (Keep in mind that it...

Basic Math
1.2K views

The scatter plot of data from 20 countries shows the relationship between a country s...

Basic Math
1.2K views

4 The vertical position h in metres of a Ferris wheel is modeled using the...

Basic Math
1.2K views

For the play, the class sold 22 of their $10 tickets on Monday and 15...

Basic Math
1.2K views

An electronic salesperson carries 6 identical amplifier tubes, 5 identical rectifiers, 2 identical condensers, and...

Algebra
1.2K views

Rewrite the ratio so that the units in the numerator and the denominator are the...

Accounting
1.2K views

Please answer all three for a thumbs up please ...

Accounting
1.2K views

plesse help! 1. Presented below is a partially-completed statement of equity...

Accounting
1.2K views

interest on capital for partner is closed with income summary as expenses in the end...

Accounting
1.2K views

Company was formed on December 1, 2020. The following information is available from inventory...