Multiple Choice
A firm has the balance sheet accounts, Common Stock and Paid-in Capital in Excess of Par, with values of $40,000 and $500,000, respectively. The firm has 40,000 common shares outstanding. If the firm had a par value of $1, the stock originally sold for ________.
A) $11.50/share
B) $12.50/share
C) $13.50/share
D) $15.50/share
Correct Answer:
Verified
Correct Answer:
Verified
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