Loudoun Corporation's balance sheet reflected the following information. Common stock, $2 par $153,000 Paid-in capital in excess of par - Common 212,000 Required: Assuming all the stock was issued in a single transaction, what was the issue price per share of the stock? Note: Round your answer to 2 decimal places. Issue price per share
Loudoun Corporation's balance sheet reflected the following information. Common stock, $2 par $153,000 Paid-in capital in excess of par - Common 212,000 Required: Assuming all the stock was issued in a single transaction, what was the issue price per share of the stock? Note: Round your answer to 2 decimal places. Issue price per share
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![**Loudoun Corporation's Balance Sheet Information**
The balance sheet of Loudoun Corporation includes the following details:
- **Common stock, $2 par**: $153,000
- **Paid-in capital in excess of par - Common**: $212,000
**Required Task:**
Assuming that all the stock was issued in a single transaction, calculate the issue price per share of the stock.
**Note:** Round your answer to two decimal places.
**[Input Field]**
- Issue price: [Input Box] per share
This exercise asks for the determination of the total issue price per share by combining the par value of the common stock and the additional paid-in capital.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8e471a5e-2c1f-43a0-a51a-181260b6660a%2F53714ce2-4bdb-4736-90fb-3769c215a665%2F0b9cm7_processed.png&w=3840&q=75)
Transcribed Image Text:**Loudoun Corporation's Balance Sheet Information**
The balance sheet of Loudoun Corporation includes the following details:
- **Common stock, $2 par**: $153,000
- **Paid-in capital in excess of par - Common**: $212,000
**Required Task:**
Assuming that all the stock was issued in a single transaction, calculate the issue price per share of the stock.
**Note:** Round your answer to two decimal places.
**[Input Field]**
- Issue price: [Input Box] per share
This exercise asks for the determination of the total issue price per share by combining the par value of the common stock and the additional paid-in capital.
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