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Kendrick Corporation Was Organized on January 2, 2011

Question 194

Multiple Choice

Kendrick Corporation was organized on January 2, 2011.During 2011, Kendrick issued 20,000 shares at $24 per share, purchased 3,000 treasury shares at $26 per share, and had net income of $300,000.What is the total amount of equity at December 31, 2011?


A) $640,000
B) $702,000
C) $708,000
D) $720,000

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