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A firm has the balance sheet accounts, Common Stock and Paid-in Capital in Excess of Par, with values of $40,000 and $500,000, respectively. The firm has 40,000 common shares outstanding. If the firm had a par value of $1, the stock originally sold for ________.

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abdullahfarooqi

Answer:

$13.50/share

Explanation:

500000/40000=12.5$

was purchased for 1$

total=1+12.5$

$13.50/share

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