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Determine dollar amounts that alpha report on common stock

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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 yearend balance sheet:

1. Common stock

2. Paid in capital common stock in excess to par

3. Retained earnings

Reference no: EM132143692

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