Question

If Ayayai Corp. issues 6,000 shares of $10 par value common stock for $400,000, the account

Answer 1

Ayayai Corp. sold each share of stock for $66.67.

Step-by-step explanation:

When a company issues shares of stock, the price at which they are sold is determined by the market and demand for the stock. In this case, Ayayai Corp. issued 6,000 shares of $10 par value common stock for $400,000. This means that each share was sold for $400,000 / 6,000 = $66.67.