(Answered) Question - alpha corp was organized on january 2 2018

Accounting

Question - Alpha Corp., was organized on January 2, 2018. During the first year of operation, Alpha issued 100,000 shares of $1 par value common stock at a price of $50 cash per share. On December 31, 2018, Alpha reported Net Income of $250,000 and paid $50,000 cash dividends. Use this information to determine the dollar amounts that Alpha will report on its year-end Balance Sheet:

1. common stock

2. paid in captial common stock in excess to par

3. retained earning

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