A Firm Has $1,500,000 in Its Common Stock Account and $1,000,000

question 24

Multiple Choice

A firm has $1,500,000 in its common stock account and $1,000,000 in its capital paid in excess of par account. The firm issued 100,000 shares of common stock. What was the issue price (market value) if only one stock has ever been sold?

• A) $35 per share
• B) $25 per share
• C) $15 per share
• D) Not enough information to determine

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