A firm has the balance sheet accounts, common stock, and paid-in capital in excess of par, with values of $10,000 and $250,000, respectively. The firm has 10,000 common shares outstanding. If the firm had a par value of $1, the stock originally sold for
A) $24/share.
B) $25/share.
C) $26/share.
D) $30/share.

Question

Quizplus · Accepted Answer

The Answer of A firm has the balance sheet accounts, common stock, and paid-in capital in excess of par, with values of $10,000 and $250,000, respectively. The firm has 10,000 common shares outstanding. If the firm had a par value of $1, the stock originally sold for
A) $24/share.
B) $25/share.
C) $26/share.
D) $30/share.

A Firm Has the Balance Sheet Accounts, Common Stock, and Paid-In