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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