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Granada Corporation has net assets of ₦600,000 and contributed capital of ₦1...


Question

Granada Corporation has net assets of ₦600,000 and contributed capital of ₦180,000. The corporation has 30,000 shares of common stock outstanding with no preferred stock. This suggest that the corporation has?

Options

A)
a book value of ₦14 per share
B)
a book value of ₦20 per share
C)
a deficit of ₦420,000
D)
retained earnings of ₦600,000

The correct answer is B.


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