Danley Corporation Began Business by Issuing 200,000 Shares of $5

Multiple Choice

Danley Corporation began business by issuing 200,000 shares of $5 par value common stock for $24 per share.During its first year, the corporation sustained a net loss of $40,000.The year-end balance sheet would show

A) Common Stock of $1,000,000.
B) Common Stock of $4,800,000.
C) total paid-in capital of $4,760,000.
D) total paid-in capital of $3,800,000.