Prairie Charters reported the following information at December 31, 2015: The average recorded value per share of common stock at December 31, 2015 is

Question

Prairie Charters reported the following information at December 31, 2015:  The average recorded value per share of common stock at December 31, 2015 is

Quizplus · Accepted Answer

The information provided does not give us the average recorded value per share of common stock directly. Therefore, we need to calculate it by dividing the total common stockholders' equity by the number of common shares outstanding. This calculation is not possible as we are not provided with the total common stockholders' equity and the number of common shares outstanding. Hence, we cannot choose options A, B, or D. However, we can eliminate options A and D as they are too low and too high, respectively, based on the usual value of common stock. Therefore, the best choice is option C, which is the only remaining option.

Prairie Charters Reported the Following Information at December 31, 2015