The Stockholders' Equity section of the balance sheet of Sea Turtle Company reveals the following information: Common stock, $3 par value $150,000 Additional paid-in capital-common 850,000 There have been two issues of stock since the corporation began business. The average issue price per share of stock was: Group of answer choicesa. $20.00 b. Not enough information to determine. c. $3.00 d. $17.00

a. $20.00

Explanation:

Given that

Common Stock = $150,000

Additional Paid-in Capital = $850,000

Par Value per share = $3

So,

Number of shares issued = Common Stock ÷ Par Value per share

= $150,000 ÷ $3

= 50,000

Now

Total Common Stock Equity = Common Stock + Additional Paid-in Capital

= $150,000 + $850,000

= $1,000,000

So,

Average Issue Price per share = Total Common Stock Equity ÷ Number of shares issued

= $1,000,000 ÷ 50,000

= $20.00

a progressive tax is a tax that imposes a lower tax rate on low-income earners compared to those with a higher income, making it based on the taxpayer's ability to pay. that means it takes a bigger percentage from high income earners than it does from low income people.

(a) when insurance is obtained through a reciprocal insurer, the insureds are sharing the risk of loss with other subscribers of that reciprocal.

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