FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Supper Company Ltd., reported the following stockholders’ equity on its balance sheet at June 30, 2021:

Supper Company Ltd.

Stockholders’ Equity

June 30,2021

 

Paid-in Capital

 

Preferred stock, 10%,? par, 650,000 shares authorized, 280,000 shares issued

$ 1,400,000

Common stock, par value $? per share, 5,000,000 shares authorized,

1,000,000 shares issued and outstanding

2,000,000

Paid-in capital in excess of par—common

6,000,000

 

Which of the following is the correct par value for the company’s preferred stock?

a.

$2.15

b.

$65,000

c.

$140,000

d.

$5

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