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The trial balance of Hackman Inc. includes

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The trial balance of Hackman Inc. includes 1. Burgess Corporation began business by issuing 100,000 shares of $5 par value common stock for $24 per share. During its first year, the corporation sustained a net loss of $20,000. The year-end balance sheet would show a. Common stock of $500,000. b. Common stock of $2,400,000. c. Total paid-in capital of $2,380,000. d. Total paid-in capital of $1,900,000. Use the following information for questions 2–3. Starr Corporation’s December 31, 2008 Balance Sheet showed the following: 8% preferred stock, $20 par value, cumulative, 20,000 shares authorized; 10,000 shares issued $ 200,000 Common stock, $10 par value, 2,000,000 shares authorized; 1,300,000 shares issued, 1,280,000 shares outstanding 13,000,000 Paid-in capital in excess of par value – preferred stock 40,000 Paid-in capital in excess of par value – common stock 18,000,000 Retained earnings 5,100,000 Treasury stock (10,000 shares) 420,000 2. Starr’s total paid-in capital was a. $31,240,000. b. $31,660,000. c. $30,820,000. d. $18,040,000. 3. Starr’s total stockholders’ equity was a. $36,760,000. b. $31,240,000. c. $36,340,000. d. $35,920,000. 4. Adcock Corporation began business by issuing 150,000 shares of $5 par value common stock for $24 per share. During its first year, the corporation sustained a net loss of $30,000. The year-end balance sheet would show a. Common stock of $750,000. b. Common stock of $3,600,000. c. Total paid-in capital of $3,570,000. d. Total paid-in capital of $2,850,000. 5. The trial balance of Hackman Inc. includes the following balances: Common Stock, $39,000; Paid-in Capital in Excess of Par, $96,000; Treasury Stock, $9,000; Preferred Stock, $30,000. Capital stock totals a. $69,000. b. $126,000. c. $165,000. d. $174,000. Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help

The trial balance of Hackman Inc. includes

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