Compact Corporation as 50,000,000 shares of common stock, par value $.01, authorized, and 16,697,000 shares issued and outstanding. Its total paid in capital is $199,623,000. If Compact rounds all dollar amounts on its financial statements to the nearest thousandth, the dollar amount reported as common stock on its balance sheet would be

Compact Corporation as 50,000,000 shares of common stock, par value $.01, authorized, and 16,697,000 shares issued and outstanding. Its total paid in capital is $199,623,000. If Compact rounds all dollar amounts on its financial statements to the nearest thousandth, the dollar amount reported as common stock on its balance sheet would be

Naim 22:07

Compact Corporation as 50,000,000 shares of common stock, par value $.01, authorized, and 16,697,000 shares issued and outstanding. Its total paid in capital is $199,623,000. If Compact rounds all dollar amounts on its financial statements to the nearest thousandth, the dollar amount reported as common stock on its balance sheet would be



a. $500
b. $200
c. $167
d. $199
e. $333


Answer: c. $167
- 16,697,000 shares issued and outstanding X $.01 par value per share = $166,970; rounded to the nearest thousandth = $167


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