Problemsilver corporation was organized on january 3 2012, Ask an Expert

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Silver Corporation was organized on January 3, 2012. The firm was authorized to issue 300,000 shares of $8 par value common stock. During 2012, Silver had the following transactions relating to shareholders' equity:

Issued 120,000 shares of common stock at $15 per share.
Issued 80,000 shares of common stock at $20 per share.
Reported a net income of $1,000,000.
Paid cash dividends of $25,000.

What is total paid-in capital at the end of 2012?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92814495

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