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Which the par value of common stock represents

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Reference no: EM132936918

Problem 1: An adjustment to retained earnings as a result of a conversion of preferred stock to common stock most likely would occur when

a. par value of the preferred stock is high relative to fair value of the common stock.
b. par value of the common stock is less than the book value of the preferred stock.
c. par value of the common stock exceeds the book value of the preferred stock.
d. par value of the preferred stock is low relative to fair value of the common.

Problem 2: The par value of common stock represents

a. the liquidation value of the stock.
b. the book value of the stock.
c. the legal nominal value assigned to the stock.
d. the amount received by the corporation when the stock was originally issued.

Reference no: EM132936918

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