Homework Answers
It is evident that the shares are issued at a value of higher than the par value, therefore issued at a premium of $19 per share(20-1). However, it is to be included in the shareholder's (or stockholder's) fund.
Therefore, shareholder's fund from the issue of shares= 20*31000= $620000
Since net income has not been distributed as dividend, it will be shown in the balance sheet as retained earnings. Retained earnings are shown in the balance sheet as a part of the shareholder's fund.
Total shareholder's fund= 620000+70000= $690000
Option A) is the correct answer.
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