The Board of Directors of Challenger, Inc. has authorized 10,000 shares of stock at a price of $200/share.  Currently, there are 7,000 shares issued with 6,000 outstanding.  If Challenger, Inc wanted to raise more capital, how much capital could it raise by selling shares?     $600,000     $800,000     $1,400,000     $2,000,000

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 15EB: Nutritious Pet Food Companys board of directors declares a 2-for-1 stock split on June 30 when the...
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  1. The Board of Directors of Challenger, Inc. has authorized 10,000 shares of stock at a price of $200/share.  Currently, there are 7,000 shares issued with 6,000 outstanding.  If Challenger, Inc wanted to raise more capital, how much capital could it raise by selling shares?

       

    $600,000

       

    $800,000

       

    $1,400,000

       

    $2,000,000

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