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Calculate the dollar amount in common stock

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Question: Mawu Corporation was organized on January 3, 2015. The firm was authorized to issue 100,000 shares of $5 par value common stock. During 2015, Mawu had the following transactions relating to shareholders' equity:

Issued 30,000 shares of common stock at $7 per share.

Issued 20,000 shares of common stock at $8 per share.

Reported a net income of $100,000.

Paid dividends of $50,000.

Calculate the following:

A. Dollar amount in Common Stock

B. Dollar amount in Additional Paid in Capital

C. Dollar amount in Retained Earnings

Reference no: EM131749117

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