The stockholders' equity of Graf Company's balance is as follows: Stockholders' equity: Paid-in capital: Common stock without par value, $12 stated value; authorized 100,000 shares; issued and outstanding, 70,000 shares Paid-in capital in excess of stated value Total paid-in capital Retained earnings Total stockholders' equity $840,000 340,000 $1,180,000 80,000 $1,260,000 a. Compute the average price at which the 70,000 issued shares of common stock were sold. b. Compute the book value per share of common stock.

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter15: Contributed Capital
Section: Chapter Questions
Problem 16E: Contributed Capital Adams Companys records provide the following information on December 31, 2019:...
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The stockholders' equity of Graf Company's balance is as follows:
Stockholders' equity:
Paid-in capital:
Common stock without par value, $12 stated value; authorized
100,000 shares; issued and outstanding, 70,000 shares
Paid-in capital in excess of stated value
Total paid-in capital
Retained earnings
Total stockholders' equity
$840,000
340,000
$1,180,000
80,000
$1,260,000
a. Compute the average price at which the 70,000 issued shares of common
stock were sold.
b. Compute the book value per share of common stock.
Transcribed Image Text:The stockholders' equity of Graf Company's balance is as follows: Stockholders' equity: Paid-in capital: Common stock without par value, $12 stated value; authorized 100,000 shares; issued and outstanding, 70,000 shares Paid-in capital in excess of stated value Total paid-in capital Retained earnings Total stockholders' equity $840,000 340,000 $1,180,000 80,000 $1,260,000 a. Compute the average price at which the 70,000 issued shares of common stock were sold. b. Compute the book value per share of common stock.
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