What is the par value for a share of common stock

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Q1. A corporation had 30,000 shares of $10 par value common stock outstanding on January 1. The board of directors declared a 10% stock dividend when the market value of each share was $15. The entry to record this dividend is?

Q2. At January 1, 20X4, Foxmore Company had 80,000 shares of common stock outstanding and no preferred stock during the year, they issued 40,000 additional shares of common stock. On december 31, 20X4, Foxmore had 120,000 shares of common stock outstanding, and no preferred stock. In addition, Foxmore reported the following results for the year 2014.

Sales revenues from regular business operations $3,000,000

Cost of goods sold 900,000

Operating expenses from their regular business operations 600,000

Gain on disposal of several items of property, plant & equipment 15,000

Income tax expense on continuing operations 330,000

Loss on the termination of a discontinued business segment, net of tax 120,000

Losses on damage caused by earthquake, net of tax 280,00

On December 31, 20X4. How much is the earnings per share for income from continuing operations?

Q3. A company reports the following stockholders equity on its balance sheet:

Common stock, 30,000 shares issued and outstanding $300,000

Contributed capital in excess of par 120,000

Retained earnings 180,000

Total stockholders' equity $600,000

What is the par value for a share of common stock?

Reference no: EM133136674

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