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Find the dollar amounts that Towson will report

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Reference no: EM132592755

Question - Towson Corp., was organized on January 2, 2018. During the first year of operation, Towson issued 70,000 shares of $4 par value common stock at a price of $30 cash per share. On December 31, 2018, Towson reported Net Income of $250,000 and paid $50,000 cash dividends. Use this information to find the dollar amounts that Towson will report on its year-end Balance Sheet for Paid in Capital Common Stock in Excess of par.

Reference no: EM132592755

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