Question

Flagler Corporation shows a total of $1,190,000 in its Common Stock account and $1,050,000 in its Paid-in Capital Excess account. The par value of Flagler's common stock is $7. How many shares of Flagler stock have been issued?a. 170,000.b. 150,000.c. 320,000.d. It cannot be determined

Answer 1

Answer: a. 170,000

Step-by-step explanation:

To find the number of shares issued;

= Common stock / Par value

= 1,190,000/7

= 170,000 shares