Alpha Corp. was organized on January 2, 2018. During the first year of operation, Alpha issued 100,000 shares of $1 par value of common stock @ a price of $50 per share.
Alpha Corp. was organized on January 2, 2018. During the first year of operation, Alpha issued 100,000 shares of
$1 par value of common stock @ a price of $50 per share. On December 31st, Alpha reported Net Income $250,000 and paid $50,000 cash dividends. Use this information to to determine the dollar amounts of that Alpha will report at its year end balance sheet.
Common Stock
Paid in capital in Excess of par
Retained Earnings
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