Burton Inc. has two classes of stock, 6% $100 par cumulative Preferred Shares and $3 par Common Shares. The equity section shows: Common stock, $3 par value, 1,000,000 shares authorized and ___?______ shares issued. .$825,000 Paid in capital in excess of par value.......... How many shares of common are issued? === Your Answer: === Respond rounded to whole dollars, without a dollar sign and without commas. ..$295,000
Burton Inc. has two classes of stock, 6% $100 par cumulative Preferred Shares and $3 par Common Shares. The equity section shows: Common stock, $3 par value, 1,000,000 shares authorized and ___?______ shares issued. .$825,000 Paid in capital in excess of par value.......... How many shares of common are issued? === Your Answer: === Respond rounded to whole dollars, without a dollar sign and without commas. ..$295,000
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 5MCQ
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jagdish
![Burton Inc. has two classes of stock, 6% $100 par cumulative Preferred Shares and $3 par
Common Shares. The equity section shows:
Common stock, $3 par value, 1,000,000 shares authorized and ? shares
issued.......... $825,000
Paid in capital in excess of par value...
How many shares of common are issued?
Respond rounded to whole dollars, without a dollar sign and without commas.
Your Answer:
..$295,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F721b300f-47bb-4ffb-8b1f-ffcfa3d7a0f3%2Fccf64641-e89f-495e-a3aa-579aaf7495dc%2Ffw36dbw_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Burton Inc. has two classes of stock, 6% $100 par cumulative Preferred Shares and $3 par
Common Shares. The equity section shows:
Common stock, $3 par value, 1,000,000 shares authorized and ? shares
issued.......... $825,000
Paid in capital in excess of par value...
How many shares of common are issued?
Respond rounded to whole dollars, without a dollar sign and without commas.
Your Answer:
..$295,000
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