Question
Based on the following entry, what is the par value for the stock and how many shares were issued if the stock was sold for
Based on the following entry, what is the par value for the stock and how many shares were issued if the stock was sold for $75 a share?
General Journal
Fate Accounts Debit Credit
Nov 1 Cash 39,375
Common stock 26,250
Paid in capital in excess of par, common 13,125
a. $25 par value, 350 shares
b.$50 par value, 525 shares
c. $75 par value, 350 shares
d.$25 par value, 525 shares
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Cost Benefit Analysis Concepts And Practice
Authors: Anthony E. Boardman, David H. Greenberg, Aidan R. Vining, David L. Weimer
5th Edition
1108401295, 978-1108401296
