Question
Spridget Company has 1 million shares of common stock authorized with a par value of $3per share, of which 600,000 shares are outstanding. The company
Spridget Company has 1 million shares of common stock authorized with a par value of $3per share, of which 600,000 shares are outstanding. The company received $7 per share when it issued shares to the public.
Required:
What is the book value of the Common stock par account and the Additional paid-in capital account? (Enter your answers in whole dollars rather than millions of dollars.)
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
13th edition
978-1-119-4110, 1119411483, 9781119411017, 978-1119411482
