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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

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
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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