Tractor Equipment Corporation has the balance sheet accounts, Common Stock and Paid-in Capital in Excess of...
Tractor Equipment Corporation 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, calculate the value the stock originally sold for.
Homework Answers
| Common Stock | $ 10,000 | |||
| Paid-in Capital in Excess of Par | $ 2,50,000 | |||
| Total proceeds from the issuance of stocks | a | $ 2,60,000 | ||
| Total number of stocks | b | 10,000 | ||
| Stock sold for | c=a/b | $ 26.00 | ||
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