Thom Inc.’s common stock has a par value of $1 and a current market price of $15. Explain why these amounts are different.

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 79E: Ratio Analysis MJO Inc. has the following stockholders equity section of the balance sheet: On the...
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Thom Inc.’s common stock has a par value of $1 and a current market price of $15. Explain why these amounts are different.

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