# of shares: 1,080,800 / 9.65 = 112,000
Calculating the Number of Shares Issued
Castalia Inc. issued shares of its $2.50 par value common stock on September 4, 2013, for $12.15 per share. The Additional Paid-In Capital―Common Stock account was credited for $1,080,800 in the journal entry to record this transaction.
Required:
How many shares were issued on September 4, 2013?
