Sussex Company is authorized to issue 100,000 shares of common stock. On August 1, the company issued
Question:
(1) The stock has a par value of $25;
(2) The stock has a par value of $10;
(3) The stock has no par value;
(4) The stock has a stated value of $1 per share.
Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...
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1 Aug 1 Cash 125000 Common Stock 125000 Issued 5000 shares of 25 par value common stock for 25 ...View the full answer
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Related Book For 
Principles of Accounting
ISBN: 978-1133626985
12th edition
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson
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