#2) The following are the account balances of Kahn Co. at August 31, 2014 Divide

Question

#2) The following are the account balances of Kahn Co. at August 31, 2014

Dividends Payable..................... $15,000                                                    Cash.............. $ 127,0000

Perferred Stock, $150, par.........150,000                                               Common Stock, $10 par.... 2,000,000

Paid-in Capital in Excess of Par-Common......200,000                           Retained Earrings............325,000

How many shares of comon stock hs Kahn issued?

A) 127,000

B) 200,000

C) 2,200,000

D) Some other amount

Explanation / Answer

B) 200,000

No. of common stock issued = Common stock value / Par value

= $2,000,000 / $10

= 200,000

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