Question

Flagler Corporation shows a total of $650,000 in its common stock account and $1,120,000 in its paid-in capital in excess of par value – common stock account. The par value of Flagler's common stock is $5. How many shares of Flagler stock have been issued?

Answer 1

Answer:

130000 shares issued

Explanation:

Shares issued = Total par value / Par value per share

= $650,000 / $5

= 130000 shares issued