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The following information pertains to M-Corp, which began operations on January 1, 20X6.

(Remember, since this is the company's first year of operations, the balance in Retained earnings at 1/1/X6 is 0.)

Balance as of                         December 31, 20X6    December 31, 20X7
Assets $1,200 $2,600
Liabilities 550 1,500
Common stock ?? ??
Retained earnings 250 ??



For the year 20X6 20X7
Revenues $500 $2,650
Expenses 150 1,350
Dividends ?? 950

1. What is the amount of the company's common stock as of December 31, 20X6?

2. Refer to the information above for M-Corp. How much did the company pay in dividends during 20X6?

3. Refer to the information above for M-Corp. How much stock was issued during 20X7?

Cost Accounting, Accounting

  • Category:- Cost Accounting
  • Reference No.:- M92638312

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