Ask Question
21 February, 15:27

Q 11.19: Clayworks Corporation issued 300,000 shares of $5 par value common stock for $26 per share. During that year, the corporation sustained a net loss of $80,000. The year-end balance sheet would show

+5
Answers (1)
  1. 21 February, 15:52
    0
    The amount which the year end balance sheet will show Common stock of $1,500,000

    Explanation:

    As the corporation issued the 30,000 shares at the rate of $5 par value. So, the common stock is of:

    = Number of shares * Price per share

    where

    Number of shares is 300,000

    Price per share is $5

    So, putting the values in the above:

    = 300,000 * $5

    = $1,500,000
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Q 11.19: Clayworks Corporation issued 300,000 shares of $5 par value common stock for $26 per share. During that year, the corporation ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers