Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN: 9781337788281
Author: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher: Cengage Learning
Question
Please correct answer and don't use hand raiting
Initial sale price of common stock Hudson-Perry Recordings Inc has one issue of preferred stock and one issue of common stock outstanding. Given their stockholders' equity account that follows, determine
the original price per share at which the firm sold its single issue of common stock.
Stockholders' Equity ($000)
Preferred stock
$221
Common stock ($0.24 par, 1,396,000 shares outstanding)
335.04
Paid-in capital in excess of par on common stock
19,468
Retained earnings
1,804
Total stockholders' equity
$21,828
The original price per share is
(Round to the nearest cent.)
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Transcribed Image Text:Initial sale price of common stock Hudson-Perry Recordings Inc has one issue of preferred stock and one issue of common stock outstanding. Given their stockholders' equity account that follows, determine the original price per share at which the firm sold its single issue of common stock. Stockholders' Equity ($000) Preferred stock $221 Common stock ($0.24 par, 1,396,000 shares outstanding) 335.04 Paid-in capital in excess of par on common stock 19,468 Retained earnings 1,804 Total stockholders' equity $21,828 The original price per share is (Round to the nearest cent.)
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