A Company Reports the Following Stockholders' Equity Contributed Capital:
Compute the (1)number of Common Shares Outstanding and Common

question 200

Essay

A company reports the following stockholders' equity:
$\begin{array}{|l|r|}\hline \text { Common stock, } \$ 10 \text { par, } 500,000 \text { shares authorized } & \$ 3,000,000 \\\hline \text { Contributed capital in excess of par, common stock } & \underline{1,300,000} \\\hline \text { Total contributed capital } & \$ 4,300,000 \\\hline \text { Retained earnings } & \underline{1,400,000} \\\hline \text { Total stockholders' equity } & \$ 5,700,000 \\\hline\end{array}$

Contributed capital:
Compute the (1)number of common shares outstanding and (2)book value per common share.

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Definitions:

Service

The provision of assistance or professional work performed for another person or organization.

Quantum Meruit

A legal principle meaning "as much as he has deserved," used to determine the amount of compensation due for services provided when there is no existing contract.

Service

The action or process of serving or providing assistance to others, often in the context of customers or clients.

Estoppel

A rule whereby a person may not deny the truth of a statement of fact made by him or her when another person has relied and acted upon the statement.