A Corporation Has the Following Account Balances: Common Stock, $1

question 126

Multiple Choice

A corporation has the following account balances: Common stock, $1 par value, $40,000; Paid-in Capital in Excess of Par Value, $1,350,000. Based on this information, the

• A) legal capital is $1,390,000.
• B) number of shares issued are 40,000.
• C) number of shares outstanding are 1,390,000.
• D) average price per share issued is $3.48.

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