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

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Essay

Constance Corporation reported a $750,000 balance in its common stock account at the end of 2016. The company held 50,000 shares of treasury stock and had 700,000 shares of common stock outstanding.
Required:
Calculate the par value per share of the company's common stock.


Definitions:

Cognitive Dissonance

A psychological phenomenon where an individual experiences mental discomfort from holding contradictory beliefs, attitudes, or values.

Self-Blame

The act of attributing personal failures or mistakes to one's own deficiencies or actions.

Post-Trauma Coping

The methods and strategies individuals use to deal with and recover from traumatic events.

Assumptive Worlds

The view that people live in social worlds based on certain beliefs (assumptions) about reality

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