Simon Corp's $1 Par Value, Common Stock Was Selling for $20

question 45

Multiple Choice

Simon Corp's $1 par value, common stock was selling for $20 per share. Simon Corp's owners' equity accounts were as follows:
$\begin{array}{lr}\text { Common stock } & \$ 800,000 \\\text { Additional paid-in capital } & 200,000 \\\text { Retained earnings } & 400,000\end{array}$

How many shares of common stock have been issued?

• A)30,000
• B)600,000
• C)800,000
• D)Not enough information to determine.

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