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Calculate the balance of the common stock

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Question - Tandem Corporation issued 200,000 shares of $2 par value common stock at date of incorporation for cash at a price of $7per share. During the first year of operations, the company earned $80,000 and declared a dividend of $25,000. At the end of this first year of operations, the balance of the common stock account is:

A. 1,400,000

B. 1,480,000

C. 1,455,000

D. 400,000

Reference no: EM131996391

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