Use the fellowing iatformation to answer questions 37 through 39. The following

Question

Use the fellowing iatformation to answer questions 37 through 39. The following data is taken from the stockholders' equity section of the balance sheet of a Hodges Company: S120,000 60,000 50,000 6,000 stock, 7 par value, 30,000 shares authorized, 12,000 shares Treasury stock, shares 37. What is the par value of the common stock? A. $15 B. $12 C. $10 D. $22.50 38. What was the average issue price per share of the common stock? A. $15 B. $13 C $18 D. S1IO 39. How many shares of treasury stock does the company hold? A. 2,600 B. 6,000 C. 2,000 D. 8,000

Explanation / Answer

Dear Student Thank you for using Chegg Please find below the answer and please give thumbs up   Statementshowing Computations Paticulars Amount Q37 B 12 Value of shares outstanding          120,000.00 No of shares outstanding            10,000.00 Par value of common stock = 120000/10000                     12.00 Q38 C $18 Total value = 120,000 + 60000          180,000.00 No of shares outstanding =              10,000.00 Average issue price= 180000/10000                     18.00 Q39 C 2000 shares No of treasury stock = 12000 - 10000               2,000.00

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