The Balance Sheet Caption for Common Stock Is: Common Stock $7,000,000$

question 18

Essay

The balance sheet caption for common stock is: Common stock, no par value, $7,000,000$ shares authorized,
$4,600,000$ shares issued, $4,450,000$ shares outstanding $\quad \$ 552,000,000$ (a.) Calculate the average price at which the shares were issued.
(b.) If these shares had been assigned a stated value of $10 each, show how the above caption would be different.
(c.) Calculate the total amount of cash that would be paid to stockholders if a cash dividend of $1.50 per share were declared.

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Definitions:

Vestibulocochlear

Pertaining to the vestibulocochlear nerve, the eighth cranial nerve, which is responsible for transmitting sound and equilibrium (balance) information from the inner ear to the brain.

Accessory

Relating to additional or auxiliary components or structures, often used to describe nerves or muscles that supplement a primary function.

Integration Center

In the nervous system, a region where information is processed and interpreted, leading to an appropriate response to stimuli.

Autonomic Reflexes

Involuntary bodily functions controlled by the autonomic nervous system that regulate vital procedures like heart rate and digestion.