Kiwi Charters reported the following information at December 31,2012: The average recorded value per share of common stock at December 31,2012 is

Question

Kiwi Charters reported the following information at December 31,2012:  The average recorded value per share of common stock at December 31,2012 is

Quizplus · Accepted Answer

The question provides no information about the number of shares outstanding, dividends, or earnings per share. Therefore, the calculation of the average recorded value per share of common stock cannot be derived based on the information provided. Without further information, the best choice is to assume that the stock has a par value of $1.00, as this is a common value for stock par values. However, this assumption is not reliable. Therefore, the best choice is C) $1.25, which is an arbitrary value based on the fact that it falls within the typical range of stock prices.

Kiwi Charters Reported the Following Information at December 31,2012