Shown below is information relating to the stockholders' equity of Lakeside Corporation as of December 31, 2006:

Question:

8% cumulative preferred stock, $100 par ......................................$300,000

Common stock, $10 par, 500,000 shares

authorized, 90,000 shares issued and outstanding .........................900,000

Additional paid-in capital: common stock ......................................300,000

Retained earnings (Deficit) ..............................................................-20,000

Dividends in arrears ...........................................................................16,000

Refer to the above data. What was the original issue price per share of common stock?

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...