Homework Answers
Answer is "Option C".
Par value is the face value of a Share.This value of the share is the minimum price at which it is sold.
This par value of shares is mentioned in the corporate charter(i.e, Articles of incorporation).
Par value of shares is calculated by:
(Number of issued shares)*(Par value per share)
Therefore Par value is the monetary value assigned per share in the corporate charter.
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Nevada Corporation has 63,200 shares of $26 par stock outstanding that has a current market value of $158. If the corporation issues a 5-for-1 stock split, the number of shares outstanding will be Oa 821,600 Ob. 316,000 Oc. 63,200 Od. 252,800 When Wisconsin Corporation was formed on January 1, the corporate charter provided for 98,000 shares of $10 par value common stock. During its first month of operation, the corporation issued 8,340 shares of stock at a price of $22...
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Land Corporation reported the following: Common Stock, $5.00 par, 217,000 shares authorized, 178,000 shares issued $890,000 Paid in Capital in Excess of Par—Common 202,000 Retained Earnings 231,000 Total Stockholders' Equity $1,323,000 Which of the following is included in the entry to record the corporation's purchase of 40,000 shares of its common stock for $13.50 per share? OA. Paid - In Capital from Treasury Stock Transactions is credited for $190,000. OB. Treasury Stock-Common is debited for $540,000. OC. Common Stock-$5.00 Par...
Suppose Home Decor Imports issued 500,000 shares of $0.07 par common stock at $5 per share. Which Journal entry correctly records the issuance of this stock? Date Accounts and Explanation Debit Credit OA 2,500,000 35,000 2,465,000 Common Stock 180.07 Par Value Paid-In Capital in Excess of Par-Common Cash Common Stock $0.07 Par Value OB 2,500,000 2,500,000 Oc. 2,500,000 Common Stock $0.07 Par Value Cash 35,000 2,465.000 Paid-In Capital in Excess of Par-Common OD 2,500,000 Common Stock $0.07 Par Value Cash...
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