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

question 48

Multiple Choice

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

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

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Definitions:

Scapegoats

Individuals or groups blamed for wrongdoings, mistakes, or faults, often without a basis for the blame.

Stereotypes

Oversimplified generalizations about a group of people that often ignore individual differences within the group.

Scrutinized

Examined or inspected closely and thoroughly.

Salience

The quality of being particularly noticeable or important; the state of standing out from the rest due to emotional or perceptual importance.