A firm has the balance sheet accounts, Common Stock and Paid-in Capital in Excess of Par, with values of $40,000 and $500,000, respectively. The firm has 40,000 common shares outstanding
If the firm had a par value of $1, the stock originally sold for ________.
A) $11.50/share
B) $12.50/share
C) $13.50/share
D) $15.50/share
C
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Product mix ________ refers to the number of versions offered for each product in the line
A) length B) depth C) height D) width E) consistency
All of the following are required for information to be considered a trade secret except:
A. it must have commercial value to its owner. B. the owner must have taken steps to protect it. C. it must be unique. D. it must be something that others do not know.
"Lemon protection" implies that
A) if the consumer is dissatisfied with the product, the consumer may return the product for a full refund within a year of purchase. B) if the product is defective, the consumer may return the product at any time for a full refund. C) if the defective product cannot be repaired after a reasonable number of attempts, the consumer is entitled to either a replacement or refund. D) producers are protected from the unwarranted return of merchandise by negligent consumers.
The CEO of Big Ships knows his company has won a $2 billion contract to build ships for the Navy. He is told by the Navy to keep this quiet until the official announcement. Knowing that Big Ships stock will rise when the announcement is made, he tells his children to buy as much Big Ships stock as they can right away. He does not buy any stock. The CEO may:
a. not be sued for insider trading since he did not engage in trades; his relatives can be sued b. not be sued for insider trading because he did not engage in trades; his relatives may not be sued because they have no relation to the company c. not be sued for insider trading under the Supreme Court rule in the Dirks case d. be sued for insider trading because he gave out inside information he had a fiduciary duty to keep secret e. be sued only if his employment contract or contract with the Navy prohibits trading