Constance Corporation Reported a $750,000 Balance in Its Common Stock

question 74

Short Answer

Constance Corporation reported a $750,000 balance in its common stock account at the end of 2010.The company held 50,000 shares of treasury stock and had 700,000 shares outstanding.Calculate the par value per share of the company's common stock.

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Definitions:

Guest-Days

A measure used in the hospitality industry to quantify the total number of days guest have stayed.

Total Fixed Cost

It encompasses all the expenses that do not change regardless of the business activity volume, such as rent and salaries.

Servicing Materials

Supplies or materials used in the maintenance and repair of products or equipment.

Planning Budget

A budget created at the beginning of the budgeting period that is valid for a planned level of activity.