Loudoun Corporation's balance sheet reflected the following information.
$\begin{array}{llr}
\text {Common stock, \$2 par } &\$140,000\
\text { Paid-in capital in excess of par - Common } &210,000\
\end{array}$
Required:
Assuming all the stock was issued in a single transaction, what was the issue price per share of the stock?

Question

Loudoun Corporation's balance sheet reflected the following information.
 $\begin{array}{llr}
  \text {Common stock, \$2 par  } &\$140,000\
 \text { Paid-in capital in excess of par - Common } &210,000\
\end{array}$
 Required:
Assuming all the stock was issued in a single transaction, what was the issue price per share of the stock?

Quizplus · Accepted Answer

The Answer of Loudoun Corporation's balance sheet reflected the following information.
 $\begin{array}{llr}
  \text {Common stock, \$2 par  } &\$140,000\
 \text { Paid-in capital in excess of par - Common } &210,000\
\end{array}$
 Required:
Assuming all the stock was issued in a single transaction, what was the issue price per share of the stock?