At the end of 20B,Storage Company reported 15,000 outstanding common shares.Total liabilities were $440,000 and total assets were $860,000.The company had no preferred shares.What was the book value per share of common share?
A)$13.90
B)$14.00
C)$28.00
D)$29.00

Question

Quizplus · Accepted Answer

The book value per share is calculated as (Total Assets - Total Liabilities) / Number of Outstanding Shares. Here, it is ($860,000 - $440,000) / 15,000 = $28.00.

At the End of 20B,Storage Company Reported 15,000 Outstanding Common