Question

flagler corporation shows a total of $650,000 in its common stock account and $1,120,000 in its paid-in capital excess account. the par value of flagler's common stock is $5. how many shares of flagler stock have been issued? 354,000 130,000 224,000 the number of shares cannot be determined using the information provided.

Answer 1

To determine the number of shares of Flagler Corporation's common stock that have been issued, we need to divide the total amount in the common stock account by the par value per share.

Given:

Common stock account: $650,000

Par value per share: $5

Number of shares = Common stock account / Par value per share

Number of shares = $650,000 / $5

Calculating the number of shares:

Number of shares = 130,000

Therefore, the number of shares of Flagler Corporation's common stock that have been issued is 130,000.