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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.

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Answer #1
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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