A Firm Has the Balance Sheet Accounts, Common Stock and Paid-In

question 74

Multiple Choice

A firm has the balance sheet accounts, Common Stock and Paid-in Capital in Excess of Par, with values of $10,000 and $250,000, respectively. The firm has 10,000 common shares outstanding. If the firm had a par value of $1, the stock originally sold for ________.

• A) $24/share
• B) $25/share
• C) $26/share
• D) $30/share

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Definitions:

Forms

In computing, forms are user interface elements that collect input from the user, often used for submitting information to a database or application.

Controls

Interactive components in software or applications that enable users to manipulate data or adjust the user interface, such as buttons, text boxes, and sliders.

Compact And Repair

A function often found in database software used to reduce file size and fix any issues within the database to improve performance.

Back Up

The process of copying data to a second location, ensuring it can be recovered in case of loss.