Shown Below Is Information Relating to the Shareholders' Equity of Reeve

question 14

Multiple Choice

Shown below is information relating to the shareholders' equity of Reeve Corporation as of December 31, 2009:
$\begin{array}{lr}8 \% \text { non-cumulative preference share, } \$ 100 \text { par } & \$ 600,000 \\\text { Ordinary shares, } \$ 10 \text { par, } 500,000 \text { shares authorized, } 120,000 \text { shares issued } & 1,200,000 \\\text { and outstanding } &\\\text { Share premium: ordinary share } & 600,000 \\\text { Retained earnings (Deficit) } & (60,000) \end{array}$



-Refer to the above data. What was the original issue price per share of ordinary shares?

• A) $10.00 per share.
• B) $2.40 per share.
• C) $15.00 per share.
• D) Some other amount.

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Definitions:

Surgical Excision

The process of removing tissue or part of an organ using surgical techniques.

Triangular Area

A geometric region defined by three points that form the shape of a triangle, often used in mathematical calculations and geometry.

Purplish-Brown

Descriptive of a color that is a mix between purple and brown, often used to describe bruises or certain skin conditions.

KUB

an acronym for Kidneys, Ureters, Bladder, referring to a radiographic examination of these abdominal areas without the use of contrast material.