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Dancing silently in your chair = appropriate celebration. Jabbing your pencil in the air and yelling "IN YOUR FACE, ETS" = not so much.

In the Mood to Share Drill

  • 1.

    If a company has authorized 1000 shares, it sells all of them for $10 per share, and the stock has a par value of 1 cent, what does the company record as the value of its common stock on the balance sheet?

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