Flagler Corporation shows a total of $660,000 in its Common Stock account and $1,600,000 in its Paid-in Capital Excess account.The par value of Flagler's common stock is $8.How many shares of Flagler stock have been issued?

Question

Quizplus · Accepted Answer

Common stock account balance of $660,000 = Number of shares issued (the unknown)× Par value of $8 per share
Number of shares issued = $660,000 ÷ $8 = 82,500

Flagler Corporation Shows a Total of $660,000 in Its Common