Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a corporation has the following account balances:

A corporation has the following account balances: Common Stock, $2 par value, $40,000; Paid-in Capital...

60.1K

Verified Solution

Question

Accounting

A corporation has the following account balances: Common Stock, $2 par value, $40,000; Paid-in Capital in Excess of Par Value, $1,800,000. Based on this information, the

a. legal capital is $1,840,000.

b. number of shares issued is 40,000.

c. number of shares outstanding is 1,840,000.

d. average price per share issued is $92.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

Airbus sold an A400 aircraft to Delta Airlines, a U.S. company, and billed $30 million pay-...

Civil Engineering
1.2K views

Topic: There are just too many vehicles in Malaysian cities. Are cities being designed to accommodate vehicles...

Chemistry
1.2K views

technique summary for distillation lab

Accounting
1.2K views

Wyman Corporation uses a process costing system. The company manufactured certain goods at a cost of...

Biology
1.2K views

The gene encoding which of the following has the appropriate characteristics to be considered a...

Basic Math
1.2K views

1 point Which of the following graphs are trees 1 A graph G with V...

Statistics
1.2K views

An amusement park has opened a new roller coaster It is so popular that people...

Accounting
1.2K views

Accounting
1.2K views

Using $3,040,000 as the cost of goods manufactured, compute the cost of goods $3,048,000. $3,032,000....

Accounting
1.2K views

Weighted average cost flow method under perpetual inventory system The following units of a particular...

Finance
1.2K views

Suppose you have been hired as a financial consultant to Defense Electronics, Incorporated (DEI), a...

Finance
1.2K views

solve it please by using financial calculator Solveil Checkpoint 11.4: Check Yourself Knowledge...