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A corporation has the following account balances: Common Stock, $1 par value, $80,000; Paid-in Capital in Excess of Par Value, $2,700,000. Based on this information, the a. legal capital is $2,780,000.
b. number of shares issued is 80,000.
c. number of shares outstanding is 2,780,000.
d. average price per share issued is $3.48.

Answer :

Number of shares issued is 80,000.

What is shares issued?

Shares of a corporation that have been allocated and are now held by shareholders are referred to as issued shares in the fields of finance and law. Issuance refers to the process of creating new issued shares. Simply put, allocation refers to the transfer of shares to a subscriber.

In the question, the common stock par value and the total amount is given. Moreover, paid-in capital is also given.

So, if we compute it, then it gives the number of shares issued because it contains a formula which is shown below:

Number of shares issued = (Common stock ÷ Par value)

= ($80,000 ÷ $1)

= 80,000 shares

So, paid-in capital is not relevant in the computation part, and therefore, the other options are wrong except b. option.

To learn more about shares issued visit:https://brainly.com/question/28392295

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