Please give me correct answer this financial accounting question Everest Technologies Inc. issues 150 million shares ofcommon stock with a par value of $1.50 per share. Theadditional paid-in capital is $1.2 billion.What is the total par value of the issued shares?

Step 1: Definition of Par ValueThe par value of a stock is the nominal or face value assigned to…

Answered: Everest Technologies Inc. issues 150…

Cornerstones of Financial Accounting

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ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

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Everest Technologies Inc. issues 150 million shares of common stock with a par value of $1.50 per share. The additional paid-in capital is $1.2 billion. What is the total par value of the issued shares?