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Question
tomlinson packaging corporation began business in 2010 by issuing 20,000 shares of $5 par common stock for $8 per share and 5,000 shares of 6%, $10 par preferred stock for par. at year end, the common stock had a market value of $10. on its december 31, 2012 balance sheet, tomlinson packaging would report
a.common stock of $200,000
b.common stock of $100,000
c.common stock of $160,000
d.paid-in capital of $150,000
Answer
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