Explain the distinction between par value shares and no par value shares.
Answer to relevant QuestionsWhat are the usual characteristics of preferred shares? On December 31, 2015, the shareholders’ equity section of the statement of financial position of R & B Corporation reflected the following: Common shares (no par value, authorized 60,000 shares, outstanding 30,000 shares) ...Sampson Corporation was organized in 2014 to operate a financial consulting business. The charter authorized the issue of 12,000 common shares. During the first year, the following selected transactions were completed: a. ...King Corporation began operations in January 2015. The charter authorized the following share capital: Preferred shares: 5 percent, $ 25 par value, authorized 40,000 shares. Common shares: no par value, authorized 100,000 ...The shareholders’ equity accounts of Gennar Inc. at January 2, 2014, are as follows: Preferred shares, no par value, cumulative, 4,000 shares issued ..... $ 200,000 Common shares, no par value, 125,000 shares issued ...
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