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Flagler Corporation Shows a Total of $660,000 in Its Common

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Flagler Corporation shows a total of $660,000 in its common stock account and $1,600,000 in its paid-in capital in excess of par value − common stock account. The par value of Flagler's common stock is $8. How many shares of Flagler stock have been issued?

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Definitions:

Normal Distribution

Exhibiting symmetry around the mean, this probability distribution reveals that there are more occurrences close to the mean than far away from it.

Chi-squared Distribution

A statistical distribution that is used to describe the distribution of a sum of squared random variables, often used in hypothesis testing.

Degrees of Freedom

The number of independent pieces of information used in the calculation of a statistic, typically the size of the data set minus the number of parameters estimated.

Area

The measurement of the extent of a two-dimensional surface or shape, typically expressed in square units.

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